AppliedAI Raises US$55M: What’s Next for AI Innovation in Abu Dhabi?

What's the Deal

Mokshita P.
What's the Deal
Published:

AppliedAI Raises US$55M: What’s Next for AI Innovation in Abu Dhabi?

With backing from Microsoft, Mubadala, and major investors, AppliedAI aims to revolutionise healthcare, insurance, and financial sectors through advanced AI automation tools.

In an exciting development for the tech and AI community, Abu Dhabi-based start-up AppliedAI has closed a massive US$55 million Series A funding round. This major boost comes with leadership from artificial intelligence firm G42—backed by Microsoft and Mubadala—as well as significant contributions from well-known investors including Bassemer Venture Partners, Palantir, McKinsey, and Accrete Capital.

So, what does this mean for the region and for businesses worldwide? The new capital injection will be used to expand the team and accelerate the development of innovative AI tools. AppliedAI specialises in crafting software solutions that help organisations automate key processes such as medical billing and healthcare claims. Their technology is already making waves in sectors like healthcare, insurance, government, and financial services.

Interestingly, while AppliedAI was originally founded in the UK in 2021, the company has since made its home in Abu Dhabi, tapping into the region's growing reputation as a hub for tech innovation.

This move is part of a broader trend in the region. Just last year, Microsoft made headlines by investing a staggering US$1.5 billion in G42. The partnership is designed to bring Microsoft’s advanced AI technologies and skill-building initiatives to the UAE and beyond, with plans to launch two dedicated AI centres in Abu Dhabi.