$100 M Series B funding secured by Tunisian enterprise AI startup InstaDeep
InstaDeep, a Tunisian-based corporate artificial intelligence (AI) firm, has secured a $100 million Series B financing round to advance its technology, expand its staff, and expedite the development of revolutionary AI solutions across numerous industries.
InstaDeep, which was founded in Tunisia in 2014 but now has operations in Paris, Tunis, Lagos, Cape Town, and Dubai, provides artificial intelligence products and solutions for the corporate sector.
InstaDeep uses deep reinforcement learning and other sophisticated machine learning approaches to produce AI systems that can optimise decision-making processes in real-life industrial situations, thanks to high-performance computers and great research and development accomplishments.
InstaDeep will utilise the funds to expand its high-performance computer infrastructure optimised for Decision-Making AI, employ top talent, and create revolutionary AI solutions in a variety of industries, including biotech, logistics, transportation, and electronics manufacturing. In addition, the company plans to expand its global footprint into the United States (US).
In 2020, InstaDeep and BioNTech will establish a multi-year strategic partnership to build a combined AI innovation centre that will use the latest breakthroughs in AI and machine learning to develop innovative immunotherapies. On AI efforts, the company partners with Google and has published collaborative research with DeepMind and Google Research. It’s also collaborating with Deutsche Bahn, Europe’s largest train operator and infrastructure owner, on a moonshot product to automate railway scheduling.
“This funding round is a tremendous vote of confidence from our partners BioNTech, Google and Deutsche Bahn after working closely with us on innovative, high-impact AI initiatives,” said Karim Beguir, co-founder and CEO of InstaDeep. “And we are very excited to get the support of Alpha Intelligence Capital, Chimera, Synergie and G42 as we see wide-ranging opportunities to deploy our AI products to tackle complex real-world problems.”
“InstaDeep has demonstrated unique capabilities in solving very complex railway problems using groundbreaking AI-first technologies. The team’s skills and thought leadership in this space have paved the way for the adoption of cutting-edge AI technologies in the railway domain. We are happy to join the investment round and enable a stronger partnership with Deutsche Bahn to jointly harness the potential of applying AI,” said Boris Kuehn, managing director, DB Digital Ventures.
Alpha Intelligence Capital partner and COO Arnaud Barthelemy expressed his pride in leading the round.
“InstaDeep is a deep technology company that disrupts traditional approaches in crucial areas as they do with BioNTech for drug discovery or with Deutsche Bahn for railway scheduling. We are thrilled to join this exciting adventure and eager to help support InstaDeep’s growth through our unique AI expertise,” he said.
