InstaDeep, a Tunisian enterprise AI startup, has raised $100 million in a Series B round of funding
- ByStartupStory | January 26, 2022
InstaDeep, a Tunisian-based enterprise artificial intelligence (AI) startup, has raised a $100 million Series B funding round to advance its technology, expand its team, and accelerate the launch of disruptive AI products across various industries.
InstaDeep, which was founded in Tunisia in 2014 but now has offices in Paris, Tunis, Lagos, Cape Town, and Dubai, provides artificial intelligence products and solutions for the enterprise sector.
InstaDeep uses deep reinforcement learning and other advanced machine learning techniques to create AI systems that can optimize decision-making processes in real-life industrial environments. It is powered by high-performance computing and outstanding research and development breakthroughs.
It has raised US$7 million in Series A funding in May 2019, according to Disrupt Africa, but its Series B funding round, led by Alpha Intelligence Capital and CDIB, indicates significant progress since then. BioNTech, Chimera Abu Dhabi, Deutsche Bahn’s DB Digital Ventures, Google, G42, and Synergie were among the other investors in the round.
InstaDeep will use the funds to expand its high-performance computing infrastructure optimised for Decision-Making AI, hire top talent, and launch disruptive AI products in a variety of industries, including biotech, logistics, transportation, and electronics manufacturing. In addition, the company plans to expand its global presence into the United States (US).
“After working closely with us on innovative, high-impact AI initiatives, our partners BioNTech, Google, and Deutsche Bahn have given us this funding round,” said Karim Beguir, co-founder and CEO of InstaDeep. “We’re also very excited to have the support of Alpha Intelligence Capital, Chimera, Synergie, and G42, as we see a lot of potential for our AI products to be used to solve complex real-world problems.”
In 2020, InstaDeep and BioNTech will launch a multi-year strategic partnership to launch a joint AI innovation lab that will use the latest advances in AI and machine learning to develop novel immunotherapies. On AI initiatives, the company collaborates with Google and has published joint research with DeepMind and Google Research. It’s also collaborating with Deutsche Bahn, Europe’s largest rail operator and infrastructure owner, on a moonshot product to automate railway scheduling.
“With groundbreaking AI-first technologies, InstaDeep has demonstrated unique capabilities in solving very complex railway problems.” The team’s expertise and thought leadership in this field has paved the way for the implementation of cutting-edge AI technologies in the railway industry. Boris Kuehn, managing director of DB Digital Ventures, said, “We are happy to join the investment round and enable a stronger partnership with Deutsche Bahn to jointly harness the potential of applying AI.”
Alpha Intelligence Capital partner and COO Arnaud Barthelemy expressed his pride in leading the round.
“InstaDeep is a deep technology company that disrupts traditional approaches in critical areas, such as drug discovery with BioNTech or railway scheduling with Deutsche Bahn.” “We are ecstatic to be a part of this exciting journey and look forward to assisting InstaDeep’s growth with our unique AI expertise,” he said.
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