Tuesday April 23rd, 2024
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KSA’s Intelmatix Closes Investment from MENA’s Largest VC Fund STV

The Saudi AI startup’s undisclosed funding was also raised from Australia-headquartered Sultan Holdings.

Zeina Ali

Saudi-based AI specialist, Intelmatix, has announced the closing of an undisclosed investment from STV, MENA’s largest venture capital fund, and Sultan Holdings, a leading investor in the region’s largest companies.

Founded in 2021 by a group of trailblazing MIT graduates - including KAUST board member, Anas Alfaris, who serves as the startup's CEO -Intelmatix has pioneered accessible AI with advanced analytics that deliver technological solutions, improve operations, productivity, growth, and sustainability for both the public and the private sector. The AI startup has hopes well within their rights to become the leading deep-tech AI and data analytics company in the MENA region, expanding far into London and Boston.

Abdulrahman Tarabzouni, STV’s founder and Chief Executive Officer, stated, “We are excited to partner with Intelmatix on its journey towards harnessing deep-tech for advancing the horizons of AI and reaching new frontiers of its application. The Intelmatix team is made of the brightest minds in the region, and they have the ability and vision to make the company a major global AI player.”

In its current phase, Intelmatix focuses on Location Intelligence which maps the relationships between spatial, social, economic, and demographic data, making it an axial checkpoint


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