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DXwand secures $4m funding round to boost regional expansion

DXwand secures $4m funding round to boost regional expansion
Ahmed Mahmoud and Mahmoud Gomaa, Founders of DXwand

Mubasher: Middle East-based AI startup DXwand has closed its Series A equity round at a value of $4 million, according to a recent press release.

The funding round was led by Shorooq Partners and Algebra Ventures, with the participation of the Dubai Future District Fund.

DXwand will use the investment to expand its regional footprint and accelerate its research and development efforts in large language model (LLM), knowledge mining, and retrieval augmented generation (RAG).

Founded in 2018 by Ahmed Mahmoud and Mahmoud Gomaa, DXwand is an AI-driven software that automates text and voice conversations between customers and businesses as well as the different citizen-facing government in call centres, Facebook Messenger, WhatsApp, SMS, or on a website.

The platform also understands slang in both Arabic and English, bringing valuable insights from conversations and presenting them on dashboards for businesses to make informed decisions.

Ahmad Mahmoud, CEO of DXwand, commented: "We are excited about the possibilities this funding opens up for DXwand and the broader landscape of conversational AI."

Tamer Azer, Partner at Shorooq Partners, stated: “DXwand enables companies to grow not just faster but also smarter, and enables governments to become far more efficient.”

“Through technology that mines institutional knowledge to deliver superior access to information, DXwand enables a far more efficient engagement between governments and companies and their stakeholders, be they citizens, employees, or customers," Azer added.