Tunisia’s enterprise artificial intelligence (AI), startup InstaDeep, has raised a US$100m Series B round of funding to expand its tech, grow its staff, and launch disruptive AI products in various sectors.
InstaDeep was founded in Tunisia in 2014. It is headquartered in London and offers AI solutions and products for the enterprise sector. There are also offices in Paris and Tunis, Lagos and Cape Town.
InstaDeep is powered by high-performance computing, outstanding research and development breakthroughs and utilises deep reinforcement and other advanced machine-learning techniques to create AI systems that optimise decision-making in real-life industrial environments.
Disrupt Africa reported that InstaDeep had raised US$7 Million in Series A funding in May 2019. However, its Series B indicates significant progress since. The company has now secured US$100,000,000 in a round led jointly by Alpha Intelligence Capital and CDIB. BioNTech, Chimera Abu Dhabi and Deutsche Bahn’s DB Digital Ventures are also investors. Synergie, G42, and Google are all part of the round.
InstaDeep will make use of the funding to expand its high-performance computing infrastructure that is optimized for Decision-Making AI. It will also continue to hire top talent and accelerate the launch disruptive AI products across multiple industries, including logistics and electronics manufacturing. InstaDeep will also increase its US presence.
InstaDeep CEO Karim Beguir said, “This funding round represents a tremendous vote in confidence from our partners BioNTech and Google after working closely with them on innovative, high impact AI initiatives.” We are thrilled to have the support of Alpha Intelligence Capital and Synergie, as well as Synergie, Synergie, and G42. Our AI products can be used to solve complex real-world problems.
InstaDeep formed a multiyear strategic partnership with BioNTech in 2020 to create a joint AI innovation laboratory to use the most recent advances in AI and machine-learning to develop new immunotherapies. It collaborates with Google to develop AI strategies and has published joint research in DeepMind and Google Research. It is also developing a moonshot product that automates railway scheduling with Deutsche Bahn. Deutsche Bahn is Europe’s largest infrastructure and rail operator.
“InstaDeep’s unique abilities in solving complex railway problems with groundbreaking AI-first technology has been a testament to their exceptional capabilities. This team’s expertise and thought leadership have made it possible to adopt cutting-edge AI technologies for railways. Boris Kuehn (Managing Director, DB Digital Ventures) said that he was happy to participate in the investment round. This will allow Deutsche Bahn to build a stronger partnership to harness the potential of AI.”
Arnaud Barthelemy was a partner and COO at Alpha Intelligence Capital. He said that he was proud of leading the round.
“InstaDeep, a deep tech company, disrupts traditional methods in key areas such as with BioNTech for drug discovery and Deutsche Bahn for railway scheduling. He said that they were thrilled to be part of this exciting adventure, and are eager to support InstaDeep’s growth with our unique AI expertise.”