Cairo-based AIM Technologies, an Artificial Intelligence based customer experience platform, has raised its seed round led by Sequence Ventures, a new Egyptian venture capital firm focused on supporting homegrown technology-based startups.
AIM Technologies is the first investment in Sequence Ventures’ portfolio which was launched earlier this year. Sequence Ventures aims to raise EGP 500m over the next three to five years, with its first tranche of capital currently being raised of EGP 150m. The capital will be deployed in Egyptian startups in transformational and crucial sectors including artificial intelligence, fintech, health-tech, ed-tech, logistics and dev-ops.
“Our mandate is to support young home-grown talent who are developing a solution to some of our own chronic issues as well as new challenges that are stalling our economic growth and our human capital” said Karim Helal, Executive Chairman of Sequence Ventures.
Sequence Ventures has a panel of highly qualified technical and investment advisors who provide mentorship to startups in the portfolio. The company has also created a network of strategic alliances with more than 45 venture capital firms and accelerators in the European region who provide matchmaking and exit opportunities for portfolio companies.
AIM technologies is the first Middle East based customer experience platform that introduced a multi-lingual text analytics solution with the world’s highest accuracy in Arabic language, and the first end to end automated customer research tool. AIM Technologies has a vision of harnessing the power of AI to develop a fully automated customer insights and actions platform helping brands enhance their customer’s experience.
AIM Technologies proprietary AI engine was developed using more than 9 billion words. In the last 24 months AIM Technologies has monitored 2,000 brands and captured the voice of 300,000 research customers serving more than 20 of the largest enterprises across 5 countries in the region such as Vodafone, Coca Cola, Nielsen IQ, Etisalat UAE, and Wunderman Thompson.
“Sequence Ventures is led by a team of experienced individuals with more than one hundred years of combined experience in multiple fields such as investment, business strategy and asset management, who we believe will be of great value to our current regional and future global growth plans,” said John Saad, Co-Founder and CEO of AIM Technologies.