Chimera closes $10b global tech fund; Shield AI opens global office in UAE





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Middle East AI News

January 27 · Issue #102 · View online

Middle East AI News is a weekly news digest covering artificial intelligence news from across the region.

Good morning!
Here’s your weekly roundup of Middle East AI News!
It comes as no surprise that the UAE has temporarily halted private drone flights over the country, following the fatal drone attacks last week. I’m sure that the authorities will be ensuring that the painful lessons learned from January 17th are fully taken into account before allowing drones back into the air.
Big funding news this week, as Abu Dhabi’s Chimera Capital reveals it is the UAE asset manager behind the new $10 billion Alpha Wave Ventures II fund, which will invest in global tech ventures. The US fund manager, Alpha Wave Global (previously Falcon Edge Capital), launched an Alpha Wave Incubation fund in 2020 targeting Indian startups and backed by Abu Dhabi’s ADQ.
And UAE-based IQ Robotics has announced that it has won a multi-million dollar deal with Brands For Less to provide robotics solutions for warehousing and logistics. The exact deal value was not disclosed.
Meanwhile, after its launch last week, SCAI (the Saudi Company for AI) signed its first collaboration deals this week, with and agreement to develop AI apps for the energy sector together with Aramco and a strategic partnership with AI cloud platform DataRobot (no further details).
Scroll down to check out these and more stories below!
Stay safe and have a great day!

Abu Dhabi’s Chimera Capital concludes close of venture capital fund at $10 billion Abu Dhabi’s Chimera Capital concludes close of venture capital fund at $10 billion
Elm Co., Saudi fund’s digital security firm seeks $820 million From IPO
Autonomous Vehicles
RCU launches first autonomous electric passenger vehicle in AlUla
Research finds new way to apply AI in cooling buildings using renewable energies
IQ Robotics expands partnership with BFL Group
Egypt, US sign partnership agreements to establish 6 applied technology schools
Communications Ministry, Dell offer AI training to students of 5 universities
Cloud Apps
mCloud signs MOU with Aramco to explore co-development of ESG, AI solutions
Regional Big Data for Sustainable Development launched in the UAE
Shield AI opens global office in Abu Dhabi
After aerial attacks, United Arab Emirates bans drone use
LEAP to bring together best minds in tech LEAP to bring together best minds in tech
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About Carrington Malin
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