The acquisition of a strategic stake (value undisclosed) in Mawdoo3, a business that specializes in large language models (LLMs) and artificial intelligence (AI) technologies with an emphasis on the Arabic language, was announced by Naif Al Rajhi Investment.
Naif Al Rajhi Investment made this acquisition as a calculated move to profit from developing industries like
AI: creating cutting-edge technological solutions specifically for Arabic-speaking users.
Arabic Data: Advancing data processing and linguistic tool innovation.
Mawdoo3 intends to use this investment as leverage to accomplish its objectives of:
Extending its technological offerings: speeding up the region’s digital transformation, utilizing technological innovation to deliver value to stakeholders and users.
Mawdoo3 wants to spearhead regional efforts at digital transformation, using Saudi Arabia as a springboard for international market expansion.
The organization’s goals are to develop AI tools, draw in specialized personnel, and promote innovation in Arabic language technology by:
To improve user experiences, specialized language models are being developed.
Advances in the field of natural language processing (NLP).
Through three funding rounds, including a $10 million Series B round in May 2019, Mawdoo3 has raised $25 million.
According to a representative for Naif Al Rajhi Investment, the acquisition is in line with the company’s mission to foster innovation in tech industries that show promise, especially those that cater to Arabic-speaking users.
A Mawdoo3 representative, meanwhile, emphasized that the collaboration marks a sea change in the company’s future strategies to broaden its customer base and bolster its position as a leader in Arabic AI innovation.
The development of AI solutions for the Arabic language is anticipated to advance significantly as a result of this acquisition, helping to:
– Promoting regional technological innovation.
– Supplying sophisticated tools to improve Arabic users’ experience.
– Bolstering tech firms’ contribution to digital transformation.
The agreement highlights Mawdoo3’s leadership in AI and Arabic language technology and Naif Al Rajhi Investment’s dedication to fostering technological innovation and the region’s digital economy.
