Investment of $55 million in Series A led by G42 for automation of office procedures in highly regulated sectors, made by AppliedAI in Abu Dhabi.
AppliedAI Secures $55 Million in Series A Funding to Expand AI Capabilities
AppliedAI, a London-founded AI startup currently based in Abu Dhabi, has recently raised $55 million in Series A funding. This significant investment reflects strong investor confidence and is aimed at scaling the company's AI capabilities, expanding its product offerings, and growing its market presence.
Founded in 2021, AppliedAI relocated to Abu Dhabi in 2022 to leverage government grants. The company is positioned within Abu Dhabi’s growing tech startup ecosystem, which actively supports AI innovation and expansion.
AppliedAI's focus is on automating back-office processes in highly regulated industries like healthcare, insurance, and pharma. The startup's AI-driven platform processes complex medical billing records and insurance claims more efficiently than traditional outsourcing firms such as Cognizant and Wipro. In the past year alone, AppliedAI has processed over 4 million pages of U.S. medical records.
Among AppliedAI's clients are Abu Dhabi's state-owned health group M42, American law firm Morgan & Morgan, and British drug safety monitoring company Qinecsa. The new funding will be used to enhance AppliedAI's AI tools and expand its presence in the U.S. and Europe.
The platform is designed for "high-cost-of-error workflows," ensuring accuracy where human lives may be on the line, according to Founder and CEO Arya Bolurfrushan.
While the exact founding background details and leadership are not explicitly detailed in the available search results, the substantial funding amount and the company's strategic location in Abu Dhabi suggest that AppliedAI is poised to expand rapidly and innovate within the AI landscape.
G42 led the Series A round, with participation from Palantir, Bessemer Venture Partners, and Accrete Capital. Given the context of Abu Dhabi’s strategic push to foster AI and tech startups, AppliedAI’s expansion plans likely align with deepening their technology offerings and penetrating broader markets in the Middle East and Africa.
For more precise and updated information, such as the startup’s founding year, founders, and roadmap, it is recommended to consult AppliedAI’s official announcements or their investor communications directly.
- With the recently secured $55 million in Series A funding, AppliedAI is planning to invest in artificial-intelligence tools and expand its presence in both the United States and Europe, focusing on automating back-office processes in industries like finance, business, and technology.
- As AppliedAI seeks to penetrate broader markets in the Middle East and Africa, it's likely that their strategic location in Abu Dhabi, a region that actively supports AI innovation and expansion, will play a significant role in their growth, potentially collaborating with prominent institutions, such as G42, Palantir, Bessemer Venture Partners, and Accrete Capital, to further their investments in AI technologies.
