AppliedAI Attracts Major Investment Led by G42
Deal News | Feb 12, 2025 | Zawya
Mubadala and Microsoft-backed technology firm G42 has spearheaded a significant $55 million investment round in the Abu Dhabi-based start-up AppliedAI. This Series A funding marks one of the largest for a start-up in the region and includes contributions from Bessemer Venture Partners, Palantir, McKinsey, and Accrete Capital. The funds will be used to expand the company’s workforce and further develop its artificial intelligence tools. AppliedAI specializes in creating software that enables automation for various sectors, including healthcare, insurance, government, and financial services. Originally founded in the UK in 2021, AppliedAI later relocated its operations to Abu Dhabi. In an unrelated transaction last year, Microsoft solidified its commitment to AI development in the UAE with a $1.5 billion investment in G42, aiming to establish two AI innovation centres in Abu Dhabi to leverage their technological capabilities and align their offerings with regional needs.
Sectors
- Artificial Intelligence
- Venture Capital
- Technology
Geography
- United Arab Emirates – The focus of the article is on G42 and AppliedAI, both of which are prominent in the UAE market.
- United Kingdom – AppliedAI was originally founded in the UK before moving its operations to Abu Dhabi.
Industry
- Artificial Intelligence – The article revolves around investments in AppliedAI, a company that specializes in AI technologies.
- Venture Capital – The investment in AppliedAI falls under Series A funding, a standard venture capital stage.
- Technology – AppliedAI, as a tech start-up developing AI solutions, positions both itself and backers in the technology sector.
Financials
- $55,000,000 – Series A funding round amount for AppliedAI.
- $1,500,000,000 – Microsoft's investment in G42 made last year to develop AI initiatives in the UAE.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AppliedAI | Target company | Company | An AI start-up that develops software to automate tasks for various industries. |
| G42 | Leading investor | Company | An AI firm backed by Microsoft and Mubadala, acting as the main investor in the funding round. |
| Bessemer Venture Partners | Investor | Company | A venture capital firm participating in the funding round for AppliedAI. |
| Palantir | Investor | Company | A tech company contributing to the investment in AppliedAI. |
| McKinsey | Investor | Company | A global management consulting firm partaking in the funding series. |
| Accrete Capital | Investor | Company | Another investment entity contributing to the funding round. |
| Mubadala | Backer of G42 | Company | A sovereign investor backing G42, involved indirectly through this investment. |
| Microsoft | Backer of G42 | Company | Tech giant backing G42, which leads the investment in AppliedAI. |