The United Arab Emirates’ AI company AqlanX has received US$10 million in funding from Lakeba Group through its AI venture, DoxAI. This investment is part of the UAE’s NextGen FDI initiative, which aims to promote innovation in the region.

AqlanX develops Arabic-first AI technologies aimed to automate business processes and improve enterprise document management. The funding will be used to expand DoxAI’s enterprise automation solutions across the Middle East.

The agreement was signed in the presence of Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade.

In collaboration with Lakeba and DoxAI, AqlanX has partnered with the University of Wollongong in Dubai to establish an AI Centre of Excellence.

🔗 Source: AqlanX

🧠 Food for thought

1️⃣ UAE positions itself as a global AI powerhouse with strategic investments

AqlanX’s US$10 million funding fits into the UAE’s broader national AI strategy, which aims to generate up to AED 335 billion (US$91 billion) in economic growth by 2031 1.

With 490 AI companies, the UAE now ranks 9th globally in AI enterprise density, showing remarkable progress in building its technology ecosystem 2.

The country’s AI investment is growing at an impressive annual rate of 20%, creating fertile ground for ventures like AqlanX that focus on enterprise automation 2.

This investment aligns perfectly with the UAE’s eight strategic objectives for AI, which include enhancing competitive assets in priority sectors and developing a fertile ecosystem for innovation 1.

The NextGen FDI initiative that facilitated this investment demonstrates how the UAE is systematically attracting high-growth tech companies to diversify its economy beyond traditional sectors.

2️⃣ Arabic-first AI addresses a critical market gap with significant economic potential

AqlanX’s focus on Arabic-first AI solutions targets a substantial opportunity in the regional enterprise market, where localized technologies remain underdeveloped despite high demand.

Accenture’s research indicates that AI technologies could contribute US$182 billion to the UAE’s economy by 2035, with financial services (US$37 billion), healthcare (US$22 billion), and transportation (US$19 billion) seeing the largest sector-specific gains 3.

The strategic partnership with the University of Wollongong to establish an AI Centre of Excellence demonstrates the importance of academic-industry collaboration in driving innovation.