DXwand raises $4 million to automate customer service and employee assistance with AI

Meet DXwand! A Cairo and Dubai based startup start-up that leverages conversational AI to help businesses in the Middle East automate customer service and employee assistance.

And, they just secured $4 million in Series A funding.

• The company was founded in 2018 by Ahmed Mahmoud and Mahmoud Gomaa, and currently caters to over 40 clients across the MENA region, facilitating over 5 million conversations since its inception.

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💰 Investor lowdown: The round was led by Shorooq Partners, Algebra Ventures, and existing investor Dubai Future District Fund.

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🗻 Dialect and data

Okay, so if we boil it down, DXwand are tackling two problems 👇

1. Language: Arabic dialects are incredibly complex and varied. This diversity poses a challenge, as there's a shortage of AI solutions that are finely tuned to handle these language variations.
2. Automation: Imagine businesses with tons of data, like enough PDFs with policy documents to fill a dhow. When they try to automate digital customer service or sales, they hit a snag because of the time-consuming manual data labelling needed for natural language understanding solutions to work their magic.

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🛠️ Break it down

Heigh-Ho, Heigh-Ho, knowledge mining is key you know.

Businesses can feed their raw data into DXwand's system, which then automates the labelling process by creating a pre-labeled set. This streamlines the implementation of conversational experiences for customers or staff, eliminating manual data labelling. Automation becomes a breeze not a burden.

DXwand's AI software automates text and voice interactions across various platforms like call centers, Facebook Messenger, WhatsApp, SMS, and websites. It understands both Arabic and English slang, extracting insights for businesses to make informed decisions.

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🤔 How’s it going?

Not too shabby. In 2023, the company's ARR exceeded $5 million, a 2x growth from the previous year, with client subscriptions ranging from $50,000 to $400,000 based on usage.

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🔮 Flashforward: 

The fresh funding will help DXwand to expanding further afield in MENA and accelerate its research and development efforts in generative AI, knowledge mining, and omnichannel conversational AI within the region.

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