RIYADH, Saudi Arabia--(BUSINESS WIRE)--Oct 3, 2023--
Intella, a MENA-based deep tech company, has successfully closed a $3.4 million Pre-Series A funding round.
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Building AI models to unlock conversational insights (Photo: AETOSWire)
The round was led by HALA Ventures and Wa’ed Ventures, the Kingdom-focused venture capital fund wholly owned by Aramco, with participation from Sanabil500 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 localized for the MENA region. This comes especially as they’ve made their strategic decision to relocate their headquarters, tapping into the kingdom’s growing tech and AI scene.
"Saudi Arabia is quickly becoming a hub for technological advances. This move fits perfectly with our plans for expansion," said Nour Taher, CEO and Co-founder of Intella.
As part of their ongoing efforts to refine their technology, Intella put their system through testing of over 30,000 hours of Arabic audio. Intella Voice resulted in a 95.73% accuracy rate, surpassing established tech leaders like Google’s speech-to-text, Open AI’s whisper, Meta’s seamless M4T, and IBM Watson.
Omar Mansour, Co-founder and CTO of Intella, added, "Our voice technology tailored for Arabic dialects has set new industry benchmarks. And now, we're moving beyond mere transcription, and focusing on audio analytics—including summarization, sentiment analysis, topic extraction, and call scoring. We're really pushing the boundaries of what AI can do for voice in our region."
Ali Abussaud, Founding Managing Partner of HALA Ventures, commented, "We're excited to back Intella's vision. They're making significant strides in connecting global AI progress with the needs of the Arab-speaking community, and it's exactly the kind of initiative the region needs right now."
Intella's mission is to bridge the gap between the Arab-speaking world and AI advancements, ensuring the region's relevance in global technological trends.
With the infusion of new funds, Intella is primed to broaden its footprint in the region, enhance its product suite, and solidify its leadership in voice technology innovation.
As the demand for specialized Arabic voice technology increases, Intella is well-positioned to address the needs of the Middle East.
*Source:AETOSWire
View source version on businesswire.com:https://www.businesswire.com/news/home/20231003669069/en/
CONTACT: Nour Taher
nour.taher@intellaworld.com
KEYWORD: AFRICA SAUDI ARABIA MIDDLE EAST
INDUSTRY KEYWORD: VOIP TECHNOLOGY TELECOMMUNICATIONS ARTIFICIAL INTELLIGENCE SOFTWARE
SOURCE: Intella
Copyright Business Wire 2023.
PUB: 10/03/2023 03:18 AM/DISC: 10/03/2023 03:18 AM
http://www.businesswire.com/news/home/20231003669069/en
