Gulf-based AlgoDriven Secures $625,000 Investment, Plans to Focus on International Expansion
The startup’s automotive data software helps customers identify and compare used car prices.
UAE’s automotive data software startup, AlgoDriven raises $625,000 fundraises from a variety of both local and international high-profile VCs, including Oman Technology Fund and DTEC Ventures.
AlgoDriven’s innovative software aims to help car dealers, classifieds, banks and insurance companies accurately identify and price used cars using big data, artificial intelligence and machine learning to drive innovation and efficiency in the automotive industry.
The new investment will allow AlgoDriven to further expand its position as a market leader in the automotive data and software field in the Middle East, and globally in New Zealand and Australia. International VC investors include Silicon Valley based Social Capital, and 500 Startups through their region-exclusive 500 Falcon’s Fund.
