InstaDeep, an enterprise Artificial Intelligence (AI) firm based in Tunisia has raised $7m in Series A funding from AfricInvest and Endeavor Capital to expand AI opportunities in Africa.
Founded in Tunisia in 2014 but now headquartered in London having gone global, InstaDeep delivers AI products and solutions for the enterprise sector and also has offices in Paris, Tunis, Nairobi, and Lagos.
Powered by high-performance computing and outstanding research and development breakthroughs, InstaDeep utilises deep reinforcement learning and other advanced machine learning techniques to create AI systems that can optimise decision-making processes in real-life industrial environments.
The funding supports the development of a new scalable product platform aimed at empowering enterprises with better decision-making using AI, leveraging deep reinforcement learning and other advanced machine learning technologies to bring AI to applications within an enterprise environment, allowing companies to optimise decisions and improve efficiency.
“Through our own cutting-edge research, we have developed a platform that goes beyond what we have seen in AI applications in the past. It can tackle challenging optimisation and automation challenges in dynamic and complex environments such as, but not limited to, mobility, logistics, manufacturing, and energy. We already see that our product is providing real value and ROI for our clients,” said Karim Beguir, co-founder and chief executive officer (CEO) of InstaDeep.
Through its strategic partnership with AfricInvest, InstaDeep also aims to continue bringing advanced AI opportunities to Africa.
“We want to grow an African AI success story and are on a mission to democratise machine learning in Africa. By partnering with AfricInvest, we can leverage their operational expertise and strong business knowledge on the continent, and together accelerate talent and positive use of AI,” Beguir said.
