sAi Capital has taken a leading role in investing in wAI Industries, supported by its partner, Plutus21.
The investment aims to provide wAI Industries with the necessary funding to undertake large-scale technology projects that demand significant financial resources, thereby allowing local firms to participate in international ventures.
wAI Industries specialises in artificial intelligence (AI) and has significantly contributed to the advancement of large organisations by leveraging data to create proprietary intellectual property, thereby gaining a competitive advantage.
Their efforts include the development of tailored AI models and products, with a notable project being a collaboration that resulted in an agreement with a major compliance software company.
Abu Abdullah Ashar, CEO and Founder of wAI, commented on the partnership, “As we head towards the exhaustion of publicly available open-source and licensed data, all enterprises will become equal in their capabilities. While this neutralisation happens, only those enterprises that are able to harness their data to build proprietary competitive models will survive. In this environment, wAI industries prioritize the development of proprietary AI models fueled by enterprises’ unique data assets.”
“Their multidimensional involvement has enhanced our global enterprise engagement capabilities and strengthened our ability to deliver at a global scale. This operational investment approach fills a critical gap in Pakistan’s VC landscape”, added Ashar.
Ahsan Jamil, CEO and General Partner at sAi, stated that the partnership aims to bolster wAI’s competitiveness on a global scale, aligning with sAi’s mission to support the growth of established technology companies.
Approved by Pakistan’s Security and Exchange Commission (SECP), sAi represents Pakistan’s first venture capital firm with a focus on Advanced Engineering Companies, featuring a $10 million Export Fund. This approach represents a shift from traditional venture capital strategies.
This partnership is poised to transform the venture capital and private equity scene in Pakistan by offering growth-focused financial solutions, potentially elevating the country’s AI sector to a significant status internationally.
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