Latest news with #LakebaGroup
Wamda
12-05-2025
- Business
- Wamda
Lakeba invests $10 million in AqlanX to localise enterprise AI solutions
UAE-based AI company AqlanX has secured a $10 million investment from Lakeba Group via its AI venture DoxAI, facilitated through the UAE's NextGen FDI initiative. Founded in 2025 by Demetrio Russo, AqlanX builds Arabic-first, UAE-made AI technologies that focus on automating business processes, improving operational efficiency, and transforming enterprise document management. The funding will accelerate AqlanX's mission to localise and scale DoxAI's enterprise automation solutions across the Middle East. Press release: AqlanX, a UAE-based artificial intelligence company, today announced a $10 million investment from Lakeba Group through their venture DoxAI, marking a significant milestone in the region's digital transformation journey. The investment, facilitated through connections fostered by the UAE's NextGen FDI initiative, will accelerate AqlanX's mission to localise and expand the proven enterprise automation capabilities of DoxAI across the Middle East. Founded on the vision of building UAE-Made, Arabic-first AI technologies, AqlanX focuses on automating business processes, enhancing operational efficiency, and transforming enterprise document management for large organisations. The company's roadmap is tightly aligned with the UAE's innovation and digital economy strategy, positioning the nation as a hub for AI and innovation-driven ventures. As part of its national capacity-building strategy, AqlanX, DoxAI and Lakeba have also formed a strategic partnership with the University of Wollongong in Dubai (UOWD) to establish an AI Centre of Excellence. This initiative will cultivate homegrown AI talent, research, and innovation directly in the UAE. The agreement was signed in the presence of H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, who commented: 'This collaboration between AqlanX, Lakeba, and DoxAI demonstrates the power of the NextGen FDI programme to catalyse strategic, cross-sector partnerships. It underscores our commitment to fostering an ecosystem that nurtures innovation and collaboration in priority sectors like artificial intelligence.' Giuseppe Porcelli, Executive Chairman of Lakeba and DoxAI, said, 'This investment is more than capital—it's a commitment to a shared vision. AqlanX represents the next frontier of enterprise AI in the Middle East, and we are proud to bring our experience, technology, and strategic resources to support its growth.' Demetrio Russo, Founder and CEO of AqlanX, added: 'With Lakeba and DoxAI behind us, AqlanX is equipped to deliver Arabic-first AI that is not only world-class but also born in, and for, the UAE. We are building an innovation hub that reflects the ambitions of this region and empowers its enterprises to lead globally.' With its foundation backed by the expertise and intellectual property of DoxAI and strategic capital from Lakeba Ventures, AqlanX is positioned to become a regional leader in enterprise AI. The NextGen FDI initiative, launched in 2022, is a core component of the UAE's strategy to promote investment into future-focused sectors, solidify its position as a global hub for innovation, and accelerate the diversification of the national economy. AqlanX joins a cohort of more than 100 companies operating in sectors such as renewable energy, advanced manufacturing, and robotics.
Zawya
11-05-2025
- Business
- Zawya
AqlanX secures $10mln investment from DoxAI to launch Arabic-first enterprise AI in the Middle East
HE Dr Thani Al Zeyoudi: 'This collaboration demonstrates the power of the NextGen FDI program and underscores our commitment to fostering an innovative ecosystem.' Dubai, UAE: AqlanX, a UAE-based artificial intelligence company, today announced a US$10 million investment from Lakeba Group through their venture DoxAI, marking a significant milestone in the region's digital transformation journey. The investment, facilitated through connections fostered by the UAE's NextGen FDI initiative, will accelerate AqlanX's mission to localize and expand the proven enterprise automation capabilities of DoxAI across the Middle East. Founded on the vision of building UAE-Made, Arabic-first AI technologies, AqlanX focuses on automating business processes, enhancing operational efficiency, and transforming enterprise document management for large organizations. The company's roadmap is tightly aligned with the UAE's innovation and digital economy strategy, positioning the nation as a hub for AI and innovation-driven ventures. As part of its national capacity-building strategy, AqlanX, DoxAI and Lakeba have also formed a strategic partnership with the University of Wollongong in Dubai (UOWD) to establish an AI Centre of Excellence. This initiative will cultivate homegrown AI talent, research, and innovation directly in the UAE. The agreement was signed in the presence of H.E. Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, who commented: 'This collaboration between AqlanX, Lakeba, and DoxAI demonstrates the power of the NextGen FDI program to catalyse strategic, cross-sector partnerships. It underscores our commitment to fostering an ecosystem that nurtures innovation and collaboration in priority sectors like artificial intelligence.' Giuseppe Porcelli, Executive Chairman of Lakeba and DoxAI, said: 'This investment is more than capital—it's a commitment to a shared vision. AqlanX represents the next frontier of enterprise AI in the Middle East, and we are proud to bring our experience, technology, and strategic resources to support its growth.' Demetrio Russo, Founder and CEO of AqlanX, added: 'With Lakeba and DoxAI behind us, AqlanX is equipped to deliver Arabic-first AI that is not only world-class, but also born in, and for, the UAE. We are building an innovation hub that reflects the ambitions of this region and empowers its enterprises to lead globally.' With its foundation backed by the expertise and intellectual property of DoxAI, and strategic capital from Lakeba Ventures, AqlanX is positioned to become a regional leader in enterprise AI. The NextGen FDI initiative, launched in 2022, is a core component of the UAE's strategy to promote investment into future-focused sectors, solidify its position as a global hub for innovation, and accelerate the diversification of the national economy. AqlanX joins a cohort of more than 100 companies operating in sectors such as renewable energy, advanced manufacturing, and robotics.
Mid East Info
08-02-2025
- Business
- Mid East Info
DoxAI to join UAE's Nextgen FDI Initiative to Drive AI-Powered Business Transformation - Middle East Business News and Information
DoxAI to establish regional headquarters in Dubai, leveraging AI-driven automation and insights to streamline business operations Move supports the UAE's vision to become a global hub for advanced technology and innovation HE Al Zeyoudi: 'DoxAI will strengthen the UAE's innovation ecosystem and contribute to the digital transformation of industries, reinforcing our position as a global technology leader.' Abu Dhabi, UAE – February, 2025: The UAE Ministry of Economy has announced that DoxAI, a provider of AI solutions designed to simplify business processes and reduce operational complexities, has joined its NextGen FDI initiative. The program, which seeks to attract high-growth advanced technology companies to the UAE, will support DoxAI in establishing its regional headquarters in Dubai and scaling its operations to serve regional and global markets. DoxAI applies AI and machine learning to streamline document processing, automate data extraction, and enhance identity verification, delivering real-time, actionable insights for businesses. By reducing the need for human intervention and integrating seamlessly with existing business systems, DoxAI enables organisations to optimise their operations, reduce costs, and focus on strategic initiatives that drive growth. DoxAI is part of the global Tech Builder Lakeba Group. His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said, 'We are delighted to welcome DoxAI to the NextGen FDI initiative. Their expertise in AI-driven automation will play a vital role in supporting the UAE's digital transformation journey and further strengthening our advanced technology ecosystem. This collaboration not only aligns with our vision to foster a knowledge-based economy but also reaffirms our commitment to positioning the UAE as a global hub for innovation and entrepreneurship.' The company's regional headquarters will initially be based in Dubai's iconic Rolex Tower, with plans to deploy its first 15 units from Australia and India. DoxAI also aims to expand its presence in the UAE by forming strategic partnerships with local universities, such as the University of Wollongong, and developing a talent recruitment plan for the 2025-2026 period. Giuseppe Porcelli, Founder and Chairman of DoxAI, stated, 'The UAE is a dynamic and forward-thinking market, offering unparalleled infrastructure, a business-friendly environment, and access to a vibrant technology ecosystem. Joining the NextGen FDI program is a game-changer for DoxAI. The UAE's visionary approach to AI and innovation provides the perfect environment for us to scale our technology, forge new partnerships, and contribute to the region's digital transformation.' The UAE's focus on artificial intelligence aligns with its broader ambitions to enhance digital infrastructure, create smart industries, and attract cutting-edge technology companies. By fostering public-private partnerships and supporting businesses like DoxAI, the UAE is strengthening its leadership in emerging technologies that drive economic growth and diversification. Launched in 2022, the NextGen FDI initiative is designed to attract high-growth and high-potential advanced technology companies to the UAE. The initiative provides fast-tracked and simplified licensing, visa processes, accelerated access to banking services, and competitive rates for commercial and residential leases. It has already welcomed global innovators across sectors such as robotics, precision fermentation, hybrid aviation, and renewable energy.
