AIREV Secures Investment from Venturewave Capital to Expand AI Platform On-Demand
Deal News | Apr 15, 2025 | Zawya
AIREV, a UAE-based AI company known for its rapid growth within the Gulf region, has secured investment from the Ireland-based venture private equity firm, Venturewave Capital, to support the global expansion of its AI operating system, On-Demand. Venturewave Capital's involvement will enable AIREV's On-Demand platform to grow its market reach from the UAE to Ireland and beyond, tapping into various market territories. AIREV's On-Demand platform, which aggregates user data to optimize AI applications, simplifies AI accessibility, empowering innovation in generative AI products. The platform allows companies and developers to create tailored AI solutions with major integrations available. With over 60,000 users already, the platform thrives on collaborations with companies like Panchea and AIdeology, along with being involved in discussions with major semiconductor companies. The significance of the investment was marked by official witnesses from the UAE and Ireland. The founders have expressed excitement about the prospects of expanding their reach globally with the continuation of their strategic partnerships.
Sectors
- Artificial Intelligence
- Venture Capital
- Technology
Geography
- United Arab Emirates – AIREV is headquartered in the UAE and is a key player within the Gulf region's AI industry.
- Ireland – Venturewave Capital is based in Ireland and partnering with AIREV indicates a geographical focus on Ireland for business expansion.
Industry
- Artificial Intelligence – The article is centered around AIREV, a company providing AI operating systems and applications, making it crucial to the AI industry.
- Venture Capital – The involvement of Venturewave Capital signifies the article's relevance to venture capital and investment activities.
- Technology – AIREV's development and expansion of AI technology indicate a significant impact on the technology sector.
Financials
- Not specified – The article does not specify the financial size of the investment or deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AIREV | Target company | Company | A fast-growing AI start-up in the UAE developing an advanced AI operating system called On-Demand. |
| Venturewave Capital | Investor | Company | An Irish-based venture private equity firm investing in AIREV to help it expand globally. |
| Core42 | Backer | Company | A G42 company backing AIREV, involved in technology solutions. |
| G42 | Backer | Company | The parent company of Core42, supporting technological innovations in AI. |
| HE Dr Thani Al Zeyoudi | Witness | Government | UAE Minister for Foreign Trade, witnessing the agreement. |
| HE Niamh Smyth TD | Witness | Government | Ireland’s Minister for Trade Promotion, AI and Digital Transformation, witnessing the agreement. |
| Panchea | Commercial Partner | Company | A computer systems and components supplier with a commercial agreement with AIREV. |
| AIdeology | Commercial Partner | Company | An AI systems and technology solutions provider, Nvidia Elite Partner, involved in a commercial agreement with AIREV. |