Jordan’s AI-based Startup Arabot Scores $1 Million Seed Investment, To Accelerate AI-Tech Growth
The startup will use the funds to expand throughout the region and further develop in its own Arabic language chatbot.
Arabot, a regional leader in high-tech online solutions and services using artificial intelligence (AI) technology, has raised a $1M seed round led by Riyad TAQNIA Fund (RTF), with participation from existing investors. The funds will be used to support regional expansion efforts and further investment in its proprietary AI chatbot technology platform & Arabic natural language processing (NLP).
The recent investment round from Riyad TAQNIA Fund will position Arabot as a trustworthy brand for AI chatbots in the region, offering streamlined interactivity and delivering a personalised experience to improve customer engagement.
Established by Abdallah Faza and Kais Hassan in 2016, Arabot was launched with the mission to reimagine both the design and processes within the digital customer’s experience, efficiently serving customers and allowing businesses to simultaneously handle thousands of conversations in real-time, automating processes and reducing operational costs.
"We are positioning ourselves to be the regional leader of intelligent bots, we are improving efficiency through reducing operational costs, resolving inconsistent customer experience and managing an efficient and responsive customer's channels across different platforms like online business chat, messaging applications, mobile and web. Our new technology and fresh approach create a frictionless digital ecosystem that fosters product innovation, building world-class conversational experiences between humans and machines,” said Abdallah Faza, CEO and Co-Founder of Arabot.
"We have an ambitious roadmap for the future of Arabot and we are delighted to have the support of the team at Riyad TAQNIA Fund, who understand our vision for a more efficient, automated and digital world,” adds Faza.
“We are excited to provide arabot with the growth capital required to continue developing truly innovative technologies, expand regionally, and look forward to joining arabot at such a crucial time in its journey. We believe this is our first investment in a series of future AI investments to come,” says Qusai Alsaif, Senior Manager at RTF,
Arabot has already seen rapid growth Year-Over-Year, with its recent achievement of being named one of the 100 Arab startups, which are shaping the Fourth Industrial Revolution (4IR) in MENA. The company was selected by the World Economic Forum (WEF) from nearly 400 applicants hailing from 17 countries across the Middle East.
