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DXwand Secures $4M to Expand Conversational AI Platform in MENA

Jonathan Wong

Jonathan Wong

26 January 2024

DXwand, a startup focused on conversational AI for Middle Eastern organizations, has secured $4 million in Series A funding. The investment, led by Algebra Ventures and Shorooq Partners, will enable the company to expand its presence in the MENA region and advance research in generative AI and knowledge mining.

CEO Ahmed Mahmoud, a former Microsoft executive, founded DXwand to address the gap in AI solutions catering to Arabic and regional languages. The company initially targeted small businesses with a customer-focused chatbot, but later pivoted to serving large corporations and developing knowledge mining capabilities.

DXwand's AI-powered software automates phone and text chats across various channels, supporting businesses in customer engagement and decision-making. With over 40 clients in the MENA region, the company has achieved over $5 million in recurring annual sales and is focused on expanding into Saudi Arabia and Africa.

The fresh funding will drive DXwand's expansion and research efforts, aiming to further enhance its AI solutions and solidify partnerships with digital companies in key markets.