Lumi AI, a UAE-based AI startup, has raised US$3.7 million in a seed funding round led by AgFunder. Other investors include Forum Ventures, Abu Dhabi’s sovereign wealth fund ADQ, Qora71 syndicate, and angel investors.

This marks Lumi AI’s second funding round, following an earlier investment in August 2023.

Founded in April 2023 by Ibrahim Ashqar and Tudor Boiangiu, Lumi AI provides generative AI tools to help retail businesses digitize their supply chains.

Its platform enables users to create custom reports and run statistical models using simple language inputs.

Clients include mid-sized consumer packaged goods firms, third-party logistics providers, and major retailers in the MENA region.

The new funding will support Lumi AI’s expansion of its conversational analytics platform. The company also plans to enhance its engineering and customer success teams while accelerating the development of new features.