{"id":614107,"date":"2024-01-28T00:00:00","date_gmt":"2024-01-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/dxwand-secures-usd-4-mn-to-step-up-ai-research-and-regional-expansion\/"},"modified":"2024-01-28T00:00:00","modified_gmt":"2024-01-28T00:00:00","slug":"dxwand-secures-usd-4-mn-to-step-up-ai-research-and-regional-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/dxwand-secures-usd-4-mn-to-step-up-ai-research-and-regional-expansion\/","title":{"rendered":"DXwand secures USD 4 mn to step up AI research and regional expansion"},"content":{"rendered":"

Algebra Ventures, Shorooq Partners, and Dubai Future District Fund invest big in <\/strong>AI startup: <\/strong>Homegrown artificial intelligence startup DXwand<\/a> has raised USD 4 mn in a Series A round led by local tech-focused VC firm Algebra Ventures, UAE-based VC firm Shorooq Partners, and the UAE government-backed Dubai Future District Fund, according to a statement (pdf)<\/a> released on Thursday. <\/p>\n

Where\u2019s the money going?<\/strong> The company plans to use the fresh funds for regional expansion \u2014 though specific areas of expansion were not stated \u2014 and for its research and development in generative AI, and retrieval augmented generation (RAG). The company currently has offices in Cairo and Dubai, along with a HQ in Wyoming. <\/p>\n

DXwand?<\/strong> DXwand is an Egyptian AI startup founded in 2018. DXwand has developed software to automate customer service conversations, using a language model that understands different slang in both Arabic and English. The platform extracts information from these conversations and presents it to businesses. The company\u2019s software also specializes in knowledge mining \u2014 a form of AI that quickly learns vast amounts of information \u2014 and generative AI. <\/p>\n

** We sat down with DXwand co-founder and CEO Ahmed Mahmoud for our <\/strong>Founder of<\/a><\/strong>the<\/a><\/strong>Week column<\/a><\/strong> back in 2022. <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The startup plans to use the fresh funds for regional expansion<\/p>\n","protected":false},"author":1,"featured_media":614108,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[7094,398,72,823,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-ai","tag-algebra-ventures","tag-enterpriseam","tag-shorooq-partners","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"f4c573f1-2056-41ff-8361-d049443adf2a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2239.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt-born AI startup DXwand secures USD 4 mn to step up AI research and regional expansion","related_issue":[614093],"teaser":"The startup plans to use the fresh funds for regional expansion","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.c23f3b69-f1dc-49c1-aec6-5b60dcbb8d56.mp3"},"yoast_head":"\nDXwand secures USD 4 mn to step up AI research and regional expansion - 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The firm hit its fundraising target in just four weeks and Shorooq is planning to fully deploy it by the end of the year, partner Samir Yamani tells us, without disclosing the size\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/290.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566759,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/12\/yodawy-lands-usd-7-5-mn-in-a-series-b-funding-round\/","url_meta":{"origin":614107,"position":2},"title":"Yodawy lands USD 7.5 mn in a series B funding round","author":"enterpriseam admin","date":"12 July 2021","format":false,"excerpt":"Yodawy raises USD 7.5 mn in a Algebra, MEVP, Global Ventures-led series B funding: Pharma platform Yodawy has landed USD 7.5 mn in a series B funding round led by Algebra Ventures, Beirut-based Middle East Venture Partners (MEVP) and UAE-based venture capital fund Global Ventures, according to an emailed statement\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":607817,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/10\/homegrown-chip-designer-pearl-semiconductor-secures-usd-4-5-mn-investment-plus-acacia-invests-in-senegal\/","url_meta":{"origin":614107,"position":3},"title":"Homegrown chip designer Pearl Semiconductor secures USD 4.5 mn investment. PLUS: Acacia invests in Senegal.","author":"enterpriseam admin","date":"10 October 2023","format":false,"excerpt":"Sawari Ventures, Shorooq Partners, and QBN Capital all invested in the semiconductor company","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/483.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549911,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/algebra-ventures-nets-usd-100-mn-first-close-on-second-fund\/","url_meta":{"origin":614107,"position":4},"title":"Algebra Ventures nets USD 100 mn first close on second fund","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Venture capital firm Algebra Ventures\u2019 second fund has reached a USD 100 mn first close, surpassing the USD 90 mn initially targeted, according to a companystatement(pdf). The VC outfit plans to invest USD 15 mn in startups by the end of this year and to reach final close on the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/138.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667031,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/18\/octane-lands-usd-5-2-mn-in-fresh-funding-to-support-operational-regional-growth\/","url_meta":{"origin":614107,"position":5},"title":"Octane lands USD 5.2 mn in fresh funding to support operational, regional growth","author":"enterpriseam admin","date":"18 June 2025","format":false,"excerpt":"The funding round was led by Shorooq Partners, Algebra Ventures, and SC Holdings","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/6\/965.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=614107"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/614107\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/614093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/614108"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=614107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=614107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=614107"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=614107"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=614107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}