arabot raises $1 million seed funding
Jordan-based artificial intelligence (AI) company arabot has raised a $1 million seed round led by Riyad TAQNIA Fund (RTF), with participation from existing investors. The funds will be used for continued regional expansion and further investment in its proprietary AI chatbot technology platform and Arabic natural language processing (NLP).
Founded in 2016 by Abdallah Faza and Kais Hassan, arabot allows businesses to simultaneously handle thousands of conversations in real-time, automate processes and reduce operational costs.
"We are positioning ourselves to be the regional leader of intelligent bots," said Abdallah Faza, co-founder and chief executive officer (CEO) at arabot. "We are improving efficiency through reducing operational costs, resolving inconsistent customer experience and managing an efficient and responsive customer's channels across different platforms like online business chat, messaging applications, mobile and web.”
The company was recently named one of the top 100 Arab startups shaping the Fourth Industrial Revolution in the Middle East by the World Economic Forum (WEF).
“With businesses and consumers increasingly looking to streamline customer queries, increase customer satisfaction and reduce costs, arabot is showing itself to be a pioneer, delivering much-needed disruption in the industry by using personalised customer experience, adapting to multiple Arabic dialects,” said Qusai Alsaif, senior manager at RTF.