Founded in 2021 by a group of MIT graduates led by Anas Alfaris, Almaha Almalki and Ahmad Alabdulkareem, Intelmatix provides both public and private sectors with accessible AI and advanced analytics that delivers technologies to improve operations, productivity, growth, and sustainability.
Annie Njanja reporting for Tech Crunch notes that, “the global enterprise AI market is projected to grow exponentially to reach $68.9 billion by 2028, at a CAGR of 43.9%, according to BCC research, with growth driven by investments in AI technologies and the increased adoption of AI solutions by companies looking to spur efficiency and remain competitive.” For regions such as MENA she adds, uptake of automated decision-making has been slow, as most enterprise AI solutions are not customized to local needs, making them impractical for companies eyeing AI.
“[Rival AI enterprise] platforms are designed and trained on datasets from the U.S., and don’t digest data that includes the contexts of the MENA region. These platforms have also been designed for large enterprises that have invested in both infrastructure and in [data science and AI] teams, which is another major problem in the region because there is a talent gap.” Dr. Anas Alfaris, co-founder and CEO of Intelmatix
After closing a $20 million Series A funding round, one of the largest for a regional company like Intelmatix, the company is looking to expand it’s products to a wider range of businesses.
Intelmatix, founded in 2021 by Saudi graduates of MIT currently has offices in Riyadh, Saudi Arabia; London, U.K.; and Boston, U.S. was founded back in 2021 but only launched its enterprise AI platform, EDIX, in March 2024.
“Today, the majority of enterprises have no access to AI capabilities, and we’re giving them 80% of that capability. We might not give them 100% yet, but we’re moving the needle from zero to 80 by immediately making it accessible,” said Dr. Alfaris. “That’s really the core of why EDIX is what it is, and why we invested in building it in our region … to make AI truly accessible by removing a lot of the complexity.” Adding that, “We plan to expand our offerings of these suites to offer more decisions and more functions that we believe could be of use to our clients,” he said. “The idea of democratizing access to AI has always been something that we’ve been very passionate about.”
To read more, click here, here, here and here.
