Tech in Africa
InstaDeep, a Tunisia-born startup has raised a $100 million Series B round led by Alpha Intelligence Capital and CDIB alongside Chimera Abu Dhabi, BioNTech, Google, Deutsche Bahn’s DB Digital Ventures, G42, and Synergie.
InstaDeep leads in advanced AI decision-making systems aimed at solving real-world problems. This funding will be directed towards advancing high-performance computing infrastructure optimized for Decision-Making AI, continuing hiring elite talent, and accelerating the launch of disruptive AI products across multiple industries – logistics, biotech, electronics manufacturing, and transportation. The firm is working towards further expansion across the United States.
In the press release, Karim Beguir, co-founder/ CEO at InstaDeep expressed excitement about the investment saying, “we see wide-ranging opportunities to deploy our AI products to tackle complex real-world problems.”
InstaDeep and BioNTech are running a multi-strategic 2020 collaboration even launching a joint AI innovation lab that deploys the latest advances in Artificial Intelligence and machine learning to develop immunotherapies. As part of this collaboration, both companies arrived at an AI-powered Early Warning System (EWS) used in detecting high-risk SARS-CoV-2 variants. EWS identified over 90% of WHO-approved designated variants just two months ahead of time.
InstaDeep works closely with Google on AI initiatives and has published joint research with DeepMind and Google Research. InstaDeep is working further with moonshot products in automating railway scheduling with Deutsche Bahn, Europe’s largest rail operator and infrastructure owner across Europe.
InstaDeep started in Tunis, Tunisia in 2014 and is now based in London. Karim Beguir and Zohra Slim (co-Founder) also boost local AI communities as central to the company’s mission through events, training, and open-source software. InstaDeep has engineers spread across Nigeria, South Africa, Tunisia, and the UAE, alongside teams in the UK and France.
Managing Director at DB Digital Ventures, Boris Kuehn based pointed out the teams’ skills and thought leadership in this space.” behind their adoption of cutting-edge AI technologies in the railway domain.
Source: Press release
