SparkLabs, a venture capital firm focused on early-stage investments, recently announced the successful raise of a new $50 million fund called the "AIM AI Fund." This fund will primarily invest in AI startups from its newly established AIM-X accelerator in Saudi Arabia, as well as other AI-related startups worldwide. Approximately 35% of the fund will support participants in the accelerator, while the remaining 65% will be allocated for Series A and B investments outside of Saudi Arabia. SparkLabs aims to invest in 50 to 70 companies, with individual investments ranging from $200,000 to $5 million. The fund’s limited partners (LPs) include a government fund.
So far, SparkLabs has invested in 14 startups through this fund, including viAct, IdeasLab, and Ahya, with the first batch of selected companies to be officially unveiled at next week's Global AI Summit in Riyadh.
Here’s a brief overview of some of these startups:
viAct: A Hong Kong-based startup focused on AI video analytics to enhance workplace safety and construction management efficiency.
IdeasLab: A New York-based startup developing an AI solution that can analyze human movement without the need for sensors.
Ahya: A Pakistani AI startup that has created climate software for measuring, analyzing, reporting, reducing emissions, and trading carbon offsets.
Swirl: An Indian video platform using AI to help brands engage with customers via video content, UGC reviews, video ads, and live shopping on websites and mobile apps.
Contents.com: An Italian AI content creation platform that automates the generation of various digital content.
Orko: A Singapore-based AI-enabled platform for managing electric vehicle fleets.
Layla: A German AI-driven travel startup aimed at improving travel experiences through smart technology.
Roughneck AI: A multimodal real-world data platform based in San Francisco, specializing in deep learning applications.
Arctech Innovation: A London-based startup spun out of the London School of Hygiene & Tropical Medicine, using AI to create sensor-enabled products for detecting pests and diseases.
OptimHire: A San Francisco-based AI-powered recruitment platform focusing on optimizing hiring processes.
WideBot AI: A Riyadh-based Arabic language generative AI platform offering a variety of AI solutions.
Orbo AI: A Mumbai-based startup developing AI-driven tools to enhance customer loyalty, engagement, and sales for beauty brands.
Vyrill: A San Francisco-based AI-powered video intelligence and marketing platform focused on video data analytics and marketing.
Stack Tech Farm: A Berlin-based agri-tech startup specializing in vertical farming research and development.
These investments highlight SparkLabs’ commitment to fostering AI innovation across different industries and regions.
Photp Credited: TechCrunch
Коментарі