Wa'ed Ventures Invests in aiXplain
The funding round also saw participation from several strategic angel investors.
Wa'ed Ventures, the $500 million Saudi venture capital fund backed by Aramco, has led a $6.5 million pre-series A funding round for aiXplain, a California-based AI infrastructure platform. The funding round also saw participation from several strategic angel investors.[1]
Founded in 2020 in San Jose, aiXplain has now raised a total of $16.5 million, with previous support from US-based firms Transform VC and Calibrate VC. This latest funding will help aiXplain localize its AI solutions for Saudi Arabia and speed up the rollout of its agentic tooling solutions, simplifying the process for local businesses to build AI agents with limited technical resources.
aiXplain enables the creation, deployment, and management of AI solutions through natural language prompts, requiring no coding background.
aiXplain's Saudi subsidiary will serve as the headquarters for its MENA region operations, where it is collaborating with over a dozen AI organizations to develop an Arabic large language model, set to debut later this year.
With over 40,000 AI models across more than 55 functions, aiXplain offers a comprehensive platform for AI assets.
With generative AI alone set to become a $1.3 trillion market by 2032, it’s no wonder that everyone wants a piece of the pie.
Hassan Sawaf, the founder of aiXplain, believes that the climate is ripe for entrepreneurs looking to make an impact.