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Wednesday, 22 June 2022

Local AI startup snags USD 2 mn+ pre-series A round

Local AI tech startup Synapse Analytics has raised over USD 2 mn in a pre-series A round, it said in a press release (pdf). The round was led by Egypt Ventures, with participation from Cloudera founder Amr Awadallah, Africa Platform founder Simon Rowlands, and existing investors.

Synapse wants to accelerate AI adoption for companies, aiming to “building trust between AI and the businesses trying to adopt machine learning in their operations,” the statement read. Founded by Ahmed Abaza and Galal El Beshbishy in 2018, the company advises firms in industries including financial services, logistics and fast-moving consumer goods (FMCG) on how best to infuse AI into their businesses.

ICYMI- Synapse co-founder Ahmed Abaza participated in our recent roundtable discussion on how companies can best leverage their AI potential. Read it here, or listen to the discussion as a podcast on our website (runtime: 44:01) or via your favorite podcasting platform.

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