DXwand, an Egyptian AI startup, has raised $4 million in a successful Series A funding round. This round saw contributions from leading investors such as Shorooq Partners and Algebra Ventures, along with continued support from the Dubai Future District Fund. Founded in 2018 by Ahmed Mahmoud and Mahmoud Gomaa, DXwand specializes in AI-driven software that automates text and voice interactions across various channels like call centers, Facebook Messenger, WhatsApp, SMS, and websites.
This recent funding follows DXwand’s pre-Series A round in June 2022, which raised $1 million, led by Huashan Capital and the US-based SOSV, along with several angel investors. The latest investment is set to accelerate DXwand’s expansion in its target region and fast-track its R&D efforts. Key development areas include generative AI, knowledge mining, and omnichannel conversational AI technologies.
DXwand’s platform, supporting both Arabic and English, uses advanced language processing technology to automate dialogues and extract valuable insights. These insights are presented on user-friendly dashboards, aiding businesses in making data-driven decisions. This Series A funding positions DXwand for significant growth in revolutionizing business-customer interactions.
Comments from participants in the funding round:
“This substantial investment is a game-changer for DXwand. It allows us to accelerate our growth across the region and enhance our focus on developing Gen AI and RAG technologies. We are thrilled about the new avenues this investment opens for both DXwand and the evolving field of conversational AI.”
— Ahmad Mahmoud, CEO DXwand’s CEO
“DXwand is not just accelerating growth, but also enhancing it intelligently. It’s transforming how governments operate, making them much more efficient. The technology taps into a wealth of institutional knowledge, enabling improved information access. This leads to a more effective interaction between governments, businesses, and their diverse stakeholders, which include citizens, employees, and customers.”
— Tamer Azer from Shorooq Partners
