The $20 million Series A funding round headed by Shorooq Partners, which included participation from Sultan Holding Group, Olayan Financing Company, Saudi Venture Capital Company (SVC), STV, Zain Ventures, and Vision Growth Fund, was closed, according to today’s announcement from AI and deep tech startup Intelmatix.
Scientists from the Massachusetts Institute of Technology (MIT) developed Intelmatix with the goal of closing the region’s AI and human capital divide with its flagship product, the Enterprise Decision Intelligence Platform (or “EDIX”).
Commenting on the tour, His Excellency Dr. Nabil Koshak, CEO and Board Member of the Saudi Venture Capital Company , said: “Our investment in AI companies stems from our commitment to contributing to the launch of deep technologies and AI in the Saudi economy.”
Leaders of successful businesses possess the capacity to make judgements quickly and accurately. While most businesses still rely on people to make decisions, machines could assist in, oversee, or manage decision-making for various business operations and procedures.
Presently, a novel combination of human and machine intelligence is being developed to propel the business towards faster expansion.
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MIT scientists Ahmad Alabdulkareem, Almaha Almalki, and Anas Alfaris founded Intelmatix, which has operations in Riyadh, London, and Boston. The company’s core product, the Enterprise Decision Intelligence Platform (EDIX), was developed to close the region’s AI gap in technology and human resources.
EDIX is a one-stop-shop and comprehensive solution for organizations in various sectors that need AI capabilities to enhance their productivity, without worrying about AI skills shortages or heavy investment in building systems and infrastructure,” said Anas Al Fares, Co-Founder and CEO of Intelmatix.
EDIX intends to be the world’s most user-friendly Enterprise AI platform, catering to users from the boardroom to the shop floor. It maximises effect and speeds adoption across the company without requiring professional AI staff.
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By utilising AI and Decision Intelligence (DI), Intelmatix enables businesses to overcome obstacles and reach better conclusions more quickly and accurately.
About Intelmatix
Intelmatix, founded by MIT technologists, has offices in Riyadh, London, and Boston. They provide custom AI solutions and Enterprise AI products that give organisations actionable insights and a competitive edge in the AI era.
