Saudi AI Startup Mozn Raises $10M
Enterprise artificial intelligence (AI) solutions startup Mozn has raised $10 million in a Series A funding round, the Saudi company said. The funding round was led by Raed Ventures with participation from Shorooq Partners, VentureSouq, Sukna Ventures, as well as strategic investors.
NLU allows machines to read and process text-allowing applications like information extraction, text summarization, text classification, and question-answering, with better bandwidth and precision than manual processing.
Mozn said in a statement it will use the funds to enhance the NLU engine and unlock use cases that previously would not have been possible for the 2 billion people worldwide speaking Arabic and other related languages. The funding comes at a time when venture capital investment in Saudi Arabia is on the rise, as PYMNTS reported recently.
Source Credit: PYMNTS
