InstaDeep, the artificial intelligence startup (AI) has raised $7 million in Series A. The round was led by AdricInvest, pan-African private equity firm, with participation from Endeavor Catalyst, a New York-based co-investment fund.
With the recently acquired capital, Tunisian-based InstaDeep plans to expand AI opportunities in Africa. It already has offices in Paris, Tunis, Nairobi and Lagos, through which it delivers AI products and solutions to enterprises.
InstaDeep uses high-performance computing along with extensive research and development breakthroughs to offer AI that optimises decision-making processes in real-life industrial environments.
“Through our own cutting-edge research, we have developed a platform that goes beyond what we have seen in AI applications in the past. It can tackle challenging optimisation and automation challenges in dynamic and complex environments such as, but not limited to, mobility, logistics, manufacturing and energy. We already see that our product is providing real value and ROI for our clients,” said Karim Beguir, co-founder and chief executive officer (CEO) of InstaDeep.
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