RIYADH: In a significant development for Saudi Arabia’s technology sector, Egyptian deep tech firm Intella has successfully secured $3.4 million in a pre-series A funding round. This funding round was led by Saudi-based HALA Ventures and Wa’ed Ventures, the venture arm of Aramco.
The capital injection is set to accelerate Intella’s foray into the Saudi market and underpin the development of artificial intelligence models tailored for the Middle East and North Africa audience.
To demonstrate its commitment to the market, Intella is strategically relocating its headquarters to Saudi Arabia, positioning itself in the midst of the Kingdom’s growing tech and AI landscape.
“Saudi Arabia is quickly becoming a hub for technological advances. This move fits perfectly with our plans for expansion,” said Nour Taher, CEO and co-founder.
In its pursuit of technological excellence, Intella’s Voice system achieved a 95.73 percent accuracy rate after extensive testing involving 30,000 hours of Arabic audio. This accuracy rate surpasses industry giants like Google and IBM Watson.
Omar Mansour, Intella’s co-founder and chief technology officer, highlighted the Arabic-focused voice technology, emphasizing its move into advanced audio analytics.
Hailing Intella’s pioneering approach, Ali Abussaud of HALA Ventures noted: “We’re excited to back Intella’s vision. They’re making significant strides in connecting global AI progress with the needs of the Arab-speaking community, and it’s exactly the kind of initiative the region needs right now.”
As Intella aims to lead the way in Arabic voice technology, this funding brings it closer to its goal of aligning the MENA region with global tech advancements.
The funding round also received contributions from Sanabil500, INSEAD’s alumni angel network, and several other prominent investors.
Source: Arab News
