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As Senior Technical Analyst at GlobalData, Beatriz Vale explains “It will be exciting to follow the evolution of the new AI CoE, in the stimulating environment offered by Hub71, and within the context of the fast-growing market of Abu Dhabi and the UAE, the second largest economy in the Arab world.” Industry Analyst Report.
The AI industry hit a significant bend in the road toward artificial general intelligence in 2024. And all the while a small AI lab in China was quietly developing new AI models, including reasoning models, that would begin sending shockwaves through the AI industry by the end of 2024. The rest of the industry has followed its lead.
Egypt and Dubai-based auto tech startup Odiggo is a platform addressing this problem. Over 50,000 car owners across three markets — Egypt, the UAE and Saudi Arabia — use Odiggo. Odiggo will use part of the funding to continue developing its tech and dashboard software, he said.
Qureos , a UAE-based edtech and remote work marketplace that is changing how people upskill and get jobs across the globe, plans to grow the uptake of its platform by 10 times this year in its race to create 100 million jobs over the next few years. Everyone submits their work, gets feedback, a rating and reflection from the mentors.
It’s an extensive process that has seen some Big Tech companies build dedicated teams to manage different connections, data and cycles with the payments gateways in the markets where they are present. MoneyHash clients cut across different industries: e-commerce, travel and tourism, and remittances, among others. In the U.S.,
Vadym Synegin is a Ukrainian impact entrepreneur, philanthropist and investor in fintech and crypto projects with more than 15 years’ experience as an entrepreneur in Europe and the UAE. They have proven their resilience even in wartime conditions, and impressively, 90% of Ukrainian tech startups are still hiring.
million on average, the largest payout to employees in Israeli high tech at the time, and the exit created a pool of new entrepreneurs and angel investors. And while Israel doesn’t have a Silicon Valley, it named its high-tech cluster “Silicon Wadi” (“wadi” means dry desert river bed in Arabic and colloquial Hebrew).
Meanwhile, Amanda explores how everything is “Goncharov” as the meme-makers are going mainstream with a huge assist from AI tech. And we have five more for you: Yeah, but does it use outside-in compression : Deep Render lands $9 million for its AI-powered video compression tech, Kyle reports. Big Tech Inc.
Per reports, Egyptians spend about 30% of their income on food in a $17 billion restaurant industry, one of the largest in Africa and the Middle East. Africa-focused fund 4DX Ventures and UAE-based venture capital firms Nuwa Capital and Shorooq Partners led the round, one of the largest in Egypt after Rabbit, Telda and Milezmore.
The round, which is a combination of equity and debt financing, lists investors from the Middle East, including DisruptAD and (the VC arm of ADQ, an Abu Dhabi-based sovereign wealth fund), and SHUAA (a major UAE asset management and investment banking firm). The biopharma industry uses more optimistic numbers.
In Africa and the Middle East, most companies in the freight industry still use old-fashioned methods such as spreadsheets, phone calls and emails to manage their shipments. And that’s what Freterium, a YC-backed startup launched in 2020, is trying to build: a holistic approach to solving critical backend challenges of the freight industry.
In 2017, iMile was founded by Rita Huang, a former employee of Chinese tech giants Huawei and Alibaba Cloud, in Dubai, UAE. It will serve customers including Chinese brands looking to expand internationally, especially those in high-value industries such as automotive, solar energy, and consumer electronics, as stated in the report.
Higher interest rates mean far fewer purchases and refinances — and lots of business for fintechs operating in the real estate industry. Layoffs in the sector began — and they took place in a range of real estate tech companies, big and small. Low interest rates mean more purchases and refinances. You can read my story on that here ).
However, in emerging markets like LATAM, the basic financial infrastructure for B2B payments is either missing or not accessible by businesses of all sizes,” added Almond, noting that the payments tech ecosystem in LATAM is generally 10–15 years behind that in the U.S. Notably, word on the street is that Payday is now eyeing an IPO.
I’m interested in hearing what investors from Intel Capital , GM Ventures and Snow Bull Capital have to say about the industry and what strategic mobility investors are looking for in a startup. In addition, the company is launching a mapping product for the AV industry. Notable news and other tidbits. Autonomous vehicles.
The company has bucked an industry-wide weakening market this year, posting an 89.3% JETOUR, a subsidiary of Chery, Chinas top car exporter, is a great example of how Chinese automakers are expanding their overseas presence with affordable, luxury-styled, tech-packed vehicles.
The UAE took in 46% of the total venture capital received in the Middle East and Africa in 2021, according to the country’s Ministry of Economy. In 2017, the UAE created an artificial intelligence ministry position, which it filled with H.E. TechCrunch: Is the UAE’s venture capital presence fairly new? were invested in the UAE.
Joby is expected to start carrying passengers in the UAE as early as this year. While there is plenty of electricity in the air about these types of vehicles, they remain part of a speculative industry with regulatory hurdles and a ways to go before their path to the skies become clear. That means rapid transit around the U.K.
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