The startup, which was founded by former Microsoft employee Ahmed Mahmoud, initially focused on providing small businesses with a customer-centric chatbot for sales on social media platforms. However, it has since pivoted to target corporates and enterprises, focusing on knowledge mining and retrieval augmented generation (RAG) domains. DXwand's AI-powered software automates text and voice conversations across various platforms, including call centers, Facebook Messenger, WhatsApp, SMS, and websites. The company plans to use the new investment to expand across Africa and Saudi Arabia and accelerate research efforts in knowledge mining and RAG.
Key takeaways:
- DXwand, a startup that uses conversational AI to automate customer service and employee assistance, has raised $4 million in Series A funding led by Shorooq Partners and Algebra Ventures.
- The funding will be used to expand DXwand's presence in the MENA region and to accelerate its research and development efforts in generative AI, knowledge mining, and omnichannel conversational AI.
- DXwand's AI-powered software automates text and voice conversations across various platforms, understanding slang in both Arabic and English, and provides analytical tools that transform conversations into leads and sales.
- With the new investment, DXwand plans to expand across Africa and Saudi Arabia, accelerate research efforts in knowledge mining and retrieval augmented generation, and form alliances with technology providers.