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.
Sequence Ventures, which launched its investment platform earlier this year, has made its first investment in AIM Technologies. Sequence Ventures plans to raise EGP500 million ($31.76 million) over the next three to five years, with a first tranche of EGP150 million ($9.5 million) presently being raised.
The funds will be invested in Egyptian startups in transformational and crucial sectors such as artificial intelligence, fintech, healthtech, edtech, logistics, and development operations.
“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 and that are stalling our economic growth and our human capital,” said Karim Helal, Executive Chairman of Sequence Ventures.
Sequence Ventures has a team of highly experienced technical and investment advisors who mentor the portfolio’s entrepreneurs. In addition, the company has created strategic alliances with more than 45 European venture capital firms and accelerators, which provide matchmaking and exit opportunities for portfolio companies.
AIM Technologies is the first customer experience platform based in the Middle East to deliver a multi-lingual text analytics solution with the greatest accuracy in the Arabic language in the world. It is also 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, founded in 2018 by John Saad and Mohamed Moaz, is an end-to-end automated consumer research platform that offers a multilingual text analytics solution to its customers.
More than nine billion words were used to create AIM Technologies’ proprietary AI engine. AIM Technologies has monitored 2,000 brands and collected the voices of 300,000 research customers in the last 24 months, serving more than 20 of the region’s largest enterprises, including 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 Chief Executive Officer of AIM Technologies.