Saudi Arabian Artificial Intelligence Startup Hazen.ai Scores Seed Round Investment
As Hazen.ai’s sole investor in their first funding round, the agreement with Waed Ventures aims to further develop and invest in their flagship software platform.
Hazen.ai, a Saudi-based artificial intelligence (AI) startup raises an undisclosed amount of investment from Saudi Aramco’s Waed Ventures. As Hazen.ai’s sole investor in their first funding round, the agreement with Waed Ventures aims to further develop and invest in their flagship software platform Computer Vision, which provides traffic safety, reinforcement and analytics through AI-based technology.
The AI startup was established in Mecca and founded by Anas Basamalah, Saleh Basalamah, Sohaib Khan and Mohamed Amin. A year later, the startup won the Product Innovation Award (PIA) at Gulf Traffic 2018. The software focuses on traffic analytics and monitoring solutions by utilising the advantages of machine learning and deep learning algorithms to provide real-world solutions for the traffic management and analytics industry.
“We believe Hazen has great promise, using its cutting-edge algorithm with a potential to revolutionise traffic management and safety. This makes the company one of the earliest advanced AIA software exporter in the region in its early seed stage,” says Wassim Basrawi, Managing Director at Waed Ventures.
