Nanovate raises $1 million pre-seed to grow Arabic AI products

Cairo-based Nanovate has raised $1 million in a pre-seed round led by a group of angel investors, Waya Media reported on 15 October. MINT Incubator by EG Bank and Raya FutureTECH Accelerator are named as backing the startup.

What Nanovate does

The company builds Arabic-language AI products, including voice and chat agents, automation systems and custom AI solutions. It has built its own large language models and aims to help businesses across the region work faster in 22 Arabic dialects. It has also launched a beta dashboard that lets businesses build their own AI chat agents without writing code. Nancy Madbouly and Ahmed Gamal founded the company about nine months before the announcement, and Gamal is co-founder and chief executive.

Markets

Nanovate operates across the Middle East and North Africa and plans to expand into Saudi Arabia and the UAE.

Use of funds

The money will go towards entering the Saudi and Emirati markets, serving more industries, building deeper integrations with CRMs, ERPs and other business tools, increasing AI research and development, and growing the team.

At a glance

• Company: Nanovate
• Raised: $1 million
• Round or Type: Pre-seed
• Lead/Investors: Angel investors, with MINT Incubator and Raya FutureTECH Accelerator as backers
• Founded: About nine months before the announcement
• Based in: Cairo, Egypt
• Markets: MENA, with Saudi Arabia and the UAE planned