We show you our most important and recent visitors news details Hazen.ai secures follow-on funding from Wa’ed in the following article
Hind Al Soulia - Riyadh - Hazen.ai secures follow-on funding from Wa’ed
News • 21 February, 2021
Saudi Arabia-based Hazen.ai, has received a follow-on investment from Wa’ed, the entrepreneurship arm of Aramco. The startup received its first-ever funding from Wa’ed back in 2019.
Founded in 2017, Hazen.ai by Sohaib Khan, Saleh Basalamah, Anas Basalamah, and Muhammad Amin, the startup leverages artificial intelligence (AI) and machine learning technologies to improve road safety software and traffic systems. Hazen.ai’s software systems help reduce fatalities by enabling law enforcement officials to spot dangerous drivers quicker.
Earlier this year, the company won a global award from the International Road Federation for its traffic management systems.
"This second round of financing from Wa’ed will enable Hazen.ai to bring its life-saving technology to more regions around the world. As a Saudi startup, we are grateful for the continued support from Aramco's entrepreneurship arm, which is helping bring Saudi solutions like Hazen.ai’s to a global audience,” said Sohaib Khan, CEO and cofounder.
The startup’s system is currently used in the UK, the US, Oman, Egypt, Spain, and Peru. It is currently bidding on projects in Argentina, Saudi Arabia, and Nigeria. Hazen.ai plans to use the fresh funds to further increase its global footprint.
Wassim Basrawi, managing director of Wa’ed said: “We are thrilled to support game-changing Saudi startups such as Hazen.ai, whose innovative technology can help save lives around the planet, which offers venture capital investment, loan financing, and incubation. Companies like Hazen.ai are great ambassadors to showcase the Kingdom’s entrepreneurial energy and talents to the world.”
These were the details of the news Hazen.ai secures follow-on funding from Wa’ed for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at Wamda and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.