Abu Dhabi-based artificial intelligence firm G42, backed by Microsoft and Mubadala, has led a $55 million Series A funding round for AppliedAI. The investment also saw participation from Bessemer Venture Partners, Palantir, McKinsey, and Accrete Capital.
AppliedAI, founded in the UK in 2021 and later relocated to Abu Dhabi, develops software to help organisations in sectors such as healthcare, insurance, government, and financial services automate processes like medical billing and healthcare claims. The new capital will support plans to hire additional staff and develop AI tools.
This funding round is among the largest for a start-up in the region, reflecting the growing interest in AI-driven solutions across various industries. The involvement of prominent investors underscores the potential of AppliedAI’s technology to streamline operations in highly regulated sectors.
Last year, Microsoft announced a $1.5 billion investment in G42, aiming to bring advanced AI technologies and skilling initiatives to the UAE and other countries. As part of this partnership, plans include opening two AI centres in Abu Dhabi to focus on responsible AI practices and the development of large language models for underrepresented languages.
