AqlanX, a UAE-based artificial intelligence firm, has secured a $10 million investment from Australia’s Lakeba Group through its venture DoxAI. The funding, facilitated by the UAE’s NextGen FDI initiative, aims to scale Arabic-first enterprise automation solutions across the Middle East.
Founded by Demetrio Russo, AqlanX focuses on automating business processes and managing enterprise documents using AI technologies developed in the UAE. The company’s roadmap aligns with the UAE’s digital economy strategy, positioning the nation as a hub for AI-driven ventures
.As part of its capacity-building strategy, AqlanX, DoxAI, and Lakeba have partnered with the University of Wollongong in Dubai to establish an AI Centre of Excellence. This initiative aims to cultivate local AI talent, research, and innovation within the UAE.
The investment agreement was signed by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, who highlighted the collaboration as a testament to the NextGen FDI program’s role in fostering strategic partnerships.
Lakeba’s investment in AqlanX marks its first venture in the UAE since joining the NextGen FDI program in February. The Sydney-based company, known for its enterprise automation solutions, aims to leverage AqlanX’s regional expertise to expand its footprint in the Middle East.
The NextGen FDI initiative, launched in 2022, is a key component of the UAE’s strategy to attract high-growth companies and technologies, accelerating the diversification of the national economy. Over 100 global companies have joined the program, spanning sectors such as AI, robotics, renewable energy, and advanced manufacturing.
