TLDR:
- Intelmatix, a Saudi Arabia-based AI company, raised $20m in Series A funding
- The funding round was led by Shorooq Partners and included other prominent investors
Intelmatix, a Riyadh, Saudi Arabia-based deep tech AI company, has successfully raised $20m in Series A funding. The round was led by Shorooq Partners, with participation from Saudi Venture Capital Company, Saudi Technology Ventures, and Olayan Financing Company. The company, founded in 2021 by a group of MIT graduates, aims to use the funds to expand its operations and business reach across the MENA region and beyond. Intelmatix provides organizations with decision intelligence technologies that offer actionable insights to improve operations, productivity, growth, and sustainability. With offices in Riyadh, London, UK, and Boston, MA, Intelmatix has a global presence that positions it as a key player in the AI industry.
