AqlanX Secures USD 10 Million Investment From DoxAI To Advance Arabic-First Enterprise AI In The Middle East

AqlanX, an artificial intelligence firm based in the UAE, has secured a US$10 million investment from Lakeba Group through their venture DoxAI. This investment is a key step in the region's digital transformation. The funding, facilitated by the UAE’s NextGen FDI initiative, will help AqlanX expand DoxAI's enterprise automation capabilities across the Middle East.

The collaboration between AqlanX, Lakeba, and DoxAI highlights the impact of the NextGen FDI program. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, remarked on this partnership's role in fostering innovation and collaboration in sectors like AI. The agreement was signed with his presence.

AqlanX aims to automate business processes and improve operational efficiency for large organisations. Their focus is on creating UAE-Made, Arabic-first AI technologies that transform enterprise document management. This aligns with the UAE’s strategy to position itself as a hub for AI-driven ventures.

Giuseppe Porcelli, Executive Chairman of Lakeba and DoxAI, stated that their investment signifies more than just capital; it reflects a shared vision. He emphasised AqlanX's potential as a leader in enterprise AI within the Middle East. "This investment is more than capital—it's a commitment to a shared vision," he said.

Demetrio Russo, Founder and CEO of AqlanX, expressed confidence in their partnership with Lakeba and DoxAI. He highlighted their goal to deliver world-class Arabic-first AI solutions developed specifically for the UAE. "We are building an innovation hub that reflects the ambitions of this region," Russo added.

Building Local Talent

AqlanX has partnered with the University of Wollongong in Dubai (UOWD) to establish an AI Centre of Excellence. This initiative aims to nurture local AI talent and foster research directly within the UAE. It forms part of AqlanX’s national capacity-building strategy alongside DoxAI and Lakeba.

The NextGen FDI initiative was launched in 2022 as part of the UAE’s strategy to attract investments into future-focused sectors like renewable energy and robotics. It aims to solidify the nation’s position as a global innovation hub while diversifying its economy.

With backing from DoxAI's expertise and Lakeba Ventures' strategic capital, AqlanX is poised to become a regional leader in enterprise AI. The company joins over 100 firms operating in advanced sectors under this initiative.

The investment marks a significant milestone for AqlanX as it continues its mission to enhance digital capabilities across the Middle East while contributing to the UAE's broader economic goals.

With inputs from WAM