Saudi VCs like the look of this Egyptian startup: Egyptian deep tech startup Intella has secured USD 3.4 mn in a pre-series A funding round, according to a company statement (pdf). The seed round was led by Saudi VC Hala Ventures and Aramco-owned Wa’ed Ventures, with participation from Sanabil 500 and Insead’s angel investors network.

Intella: Founded in 2021, the startup bills itself as the region’s “first real-time intelligence provider,” and provides a suite of AI-powered services including voice transcription, chat, and market research.

Saudi money for Saudi expansion: The funding is intended to support Intella’s cross-border expansion into Saudi Arabia and accelerate its development of AI. “Saudi Arabia is quickly becoming a hub for technological advances. This move fits perfectly with our plans for expansion,” Intella CEO Nour Taher said. The startup recently announced plans to relocate its headquarters from Cairo to Riyadh.

This isn’t the first time Hala Ventures has pitched in: Intella raised USD 1 mn in seed funding last year in a joint initiative by Hala Ventures, Falak Startups, Egypt Ventures and a number of angel investors.

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