Naif Al Rajhi Investment has acquired a strategic stake in Mawdoo3, a company specializing in artificial intelligence (AI) and large language models (LLMs) tailored for the Arabic language. The value of the acquisition remains undisclosed, marking a significant step in capitalizing on emerging tech sectors.
This acquisition positions Naif Al Rajhi Investment to drive innovation in AI, particularly in developing advanced tech solutions for Arabic-speaking users and enhancing Arabic data processing tools. Mawdoo3 plans to use this investment to expand its technological offerings, accelerate digital transformation across the region, and deliver more value to users and stakeholders.
Mawdoo3 aims to lead digital transformation efforts in the region, with Saudi Arabia serving as the base for its global market expansion. The company focuses on advancing AI tools, attracting specialized talent, and fostering innovation in Arabic language technology through the development of specialized language models and advancements in Natural Language Processing (NLP).
A pioneer in AI investment in the region, Mawdoo3 has reached several milestones, including launching its proprietary NLP toolkit, developing LLMs to support multiple sectors, and commercializing solutions like financial virtual assistants and Arabic language models. The company has raised $25 million over three funding rounds, the most recent being a $10 million Series B round in May 2019.
Naif Al Rajhi Investment’s spokesperson stated that the acquisition aligns with the company’s vision to support innovation in promising tech sectors, particularly those that cater to Arabic-speaking users. A representative from Mawdoo3 emphasized that the partnership is a turning point in the company’s future plans to expand its reach and strengthen its leadership in Arabic AI innovation.
This deal is set to propel advancements in AI solutions for the Arabic language, fostering tech innovation in the region and providing advanced tools for Arabic-speaking users. The acquisition solidifies Mawdoo3’s leadership in AI and Arabic language technology while affirming Naif Al Rajhi Investment’s commitment to driving digital transformation and supporting the region’s tech ecosystem.
