In a groundbreaking move set to redefine Dubai’s technological landscape, Polynome Group, a leading UAE-based technology firm, has announced the launch of a visionary $100 million fund dedicated to advancing AI startups. This strategic initiative, unveiled during the prestigious AI Retreat organized by the Dubai Centre for AI Applications in collaboration with the National Programme for Artificial Intelligence, underscores Polynome Group’s commitment to accelerating the adoption of AI and digital technologies.
Scheduled to commence in the first quarter of 2025, the fund will prioritize investments in pioneering technologies spanning AI software applications, robotics, and broader tech sectors. Embracing a “founders for founders” philosophy, the fund aims to support startups at critical stages of their growth journey—from seed funding through Series A to later growth stages—with initial investments ranging from $500,000 to $5 million per company.
Alexander Khanin, CEO and founder of Polynome Group, emphasized the fund’s strategic objectives: “Our mission is clear—to bolster the UAE’s technological prowess, cultivate a robust tech ecosystem, attract top global talent, and position Dubai as a frontrunner in AI research and innovation.”
Securing in-principle approval from regulatory bodies such as the Dubai International Financial Centre (DIFC) and Dubai Financial Services Authority (DFSA), Polynome Group’s AI fund is poised to play a pivotal role in the region’s burgeoning venture landscape. The fund’s distinctive approach, rooted in the entrepreneurial experiences of Polynome’s leadership team, aims to not only provide capital but also strategic mentorship and technical expertise through its roster of over 100 AI/ML experts, data scientists, and industry mentors.
“We are committed to forging strong alliances with the scientific community, visionary entrepreneurs, and investing in AI solutions that will redefine daily living,” Khanin added, highlighting Polynome Group’s broader vision of fostering impactful advancements in AI-driven technologies.
In addition to financial backing, Polynome VC will offer comprehensive advisory services encompassing fundraising strategy, M&A advisory, and strategic counsel to portfolio companies, further solidifying its role as a catalyst for innovation.
Renowned for organizing the Middle East’s largest professional AI summit, Machines Can See, and pioneering fundamental AI models and applications, Polynome Group stands at the forefront of Dubai’s tech evolution. With favorable business policies and an influx of top-tier tech talent, Polynome VC is primed to spearhead the next wave of technological breakthroughs, underscoring its pivotal role in shaping Dubai’s future as a global AI hub. Source of Information: WAM
