Applied AI Company, a London-based firm that designs and manufactures products for the healthcare, pharmaceutical safety, and public sector, has raised $42 million in the capital.
G42, ARM Holding, Plug and Play Investment Group, and families from Europe in the MENA region led this round. Seed investors were Stefan von Liechtenstein, Garry Kasparov, Dennis Mahoney, Valnon Holding, Freud Holdings, HCS GmbH, Plug, and Play Investment Group, Bolur Corporation, and the same ARM Holding, among others.
The company plans to use the funds to speed up its expansion in the US and Europe.
Established in September 2021 and headed by Arya Bolurfrushan, the Founder and CEO. The Applied AI Company (AAICO) creates products that help automate crucial human processes in the pharmaceutical, insurance and healthcare, safety, and the government sector. The company’s products help reduce the chance of human error and manual procedures and increase efficiency.