AI Startup DXwand Raises $4M to Expand Conversational AI Across MENA
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DXwand, an AI startup based in Cairo and Dubai, raised $4M in Series A funding to expand its conversational AI platform in the MENA region.
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The platform uses knowledge mining to help enterprises automate customer service and other conversations without tedious manual data labeling.
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DXwand pivoted from targeting small businesses to enterprises in 2021, enabling it to become profitable with over $5M in annual recurring revenue.
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The startup now serves over 40 clients across sectors like healthcare and fintech, facilitating over 5 million conversations.
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With the new funds, DXwand plans to expand in Africa and Saudi Arabia, advance its AI research, and form partnerships with telecoms.