Synapse Analytics Bags $2 Million Investment for Expansion
This funding follows a $2 million pre-series A round in 2022 led by Egypt Ventures along with other investors.
Synapse Analytics, an AI startup based in Egypt and part of Abu Dhabi's Hub71 ecosystem, has secured $2 million in funding led by Silicon Badia and Hub 71. Founded in 2018 by Ahmed Abaza and Galal El Beshbishy, Synapse Analytics focuses on helping businesses use AI for decision-making.[1]
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This investment will support Synapse Analytics' expansion of its AI technologies across the GCC and Africa. The startup offers AI software for financial institutions to improve credit scoring, dynamic pricing, and eKYC/eKYB processes.
Synapse Analytics' flagship platform, Konan, helps integrate machine learning into existing decision-making processes. Their Doxter platform provides document extraction and process automation, aiding in client onboarding and data verification.
This funding follows a $2 million pre-series A round in 2022 led by Egypt Ventures along with other investors.