Tech

Egyptian tech startup, Intella announces closing $3.4m funding to expand into Saudi Arabia

Published

7 months ago

October 7, 2023

Egyptian deep-tech startup, Intella has announced closing a $3.4 million pre-Series A funding round in a bid to expand into the Saudi Arabian market, as well as supporting the development of its end-to-end AI models localised for the MENA region.

According to co-founder and CEO of Intella, Nour Altaher, the funding came from Hala Ventures alongside Wa’ed Ventures, the VC arm of Aramco, an oil conglomerate in the Gulf nation.

Other participants in the funding included Sanabil 500 and INSEAD’s alumni angel network, along with other investors.

“The new funding will fuel Intella’s expansion into the Saudi market and support the development of end-to-end AI models localised for the MENA region. The startup has already relocated its headquarters from Cairo to Riyadh,”Altaher said.

“Saudi Arabia is quickly becoming a hub for technological advances. This move fits perfectly with our plans for expansion,” he added.

Founded in 2021 by the duo of Altaher and Omar Mansour, Intella is Egypt’s number one real-time, on-demand market research tech company that offers business clients across diverse sectors adequate research materials and business profiling.

Related Topics:Egypt Expansion Featured Funding Intella Saudi Arabia

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Tech

RepAir, Cella partner to launch carbon capture in Kenya

Published

24 hours ago

April 27, 2024

Akanimoh Etim

Global Direct Air Capture (DAC) firm, RepAir, has entered into a partnership with carbon storage technology company, Cella, to launch a first-of-its-kind innovative Carbon Capture and Storage venture in Kenya.

In a statement on its website on Friday, RepAir said the venture will see a replication of its “cultivating partnerships” with storage firms in Europe, U.S. and Africa.

“This storage agreement will streamline the sale of high-quality carbon credits to off-takers, enabling corporations to meet evolving ESG standards, manage offsets and advance towards net zero goals,” the statement issued by RePAir CEO, Amir Amir Shiner, stated.

“Our solution sets a new standard, requiring only 600 kWh per ton of CO2 captured, marking the lowest energy consumption on the market.

“This agreement is perfectly aligned with the launch of our commercial demonstrator in 2025, empowering RepAir to offer high-quality carbon credits to our customers.

“It will see to the establishment of a storage partnership with Cella aimed at creating dedicated value chains for extracting CO2 from the atmosphere and permanently storing it underground through in-situ mineralization.

Corey Pattison, CEO, Cella, who also issued a statement on the partnership, said “by partnering with Cella at our first demonstration site, RepAir can capitalize on two critical resources: the potential for truly permanent, highly verifiable carbon storage via mineralization combined with Kenya’s abundant renewable energy sources.

“Together these resources provide a comprehensive solution for capturing and storing CO2 for off-takers. This collaboration represents an extraordinary opportunity to nurture mutual growth.”

Tech

Intel Liftoff Hackathon 2024 calls for applications from African AI startups

Published

2 days ago

April 26, 2024

Akanimoh Etim

Applications for the 2024 cohort of Intel Liftoff Hackathon has opened for African AI startups designed to bring together aspiring tech entrepreneurs, software developers, and AI enthusiasts to collaborate, innovate, and create solutions to concrete African challenges.

In its second edition, the hackathon welcomes pioneering early-stage AI startup teams from the African continent, delving into experiments with LLM technology, a statement on the website of the organiser stated.

It added that the Intel Liftoff Hackathon for African AI Startups, which will be held online on May 27-31, is themed “Hack and Connect”, and will take place in partnership with Modus Africa, University Mohamed VI Polytechnic, Morocco

Other partners include TUT Hub of Artificial Intelligence Institute of South Africa, Prosper Africa, UM6P Ventures, FAST Accelerator, Innov8 Technology Hubs, and Open Startups International.

“The hackathon will feature hands-on workshops that will allow learning of AI essentials; three days of challenges with mentors to test skills; exhibition opportunities to showcase startups and forge partnerships with industry leaders; and networking opportunities to engage with fellow startups and gain insights from domain experts in the AI ecosystem,” the statement said.

“Winners will be invited to join the Intel Liftoff for Startups programme, and receive unique mentoring sessions with ecosystem partners and marketing opportunities with blog articles,” it concluded.