Page 343 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

of Excellence. This initiative will cultivate homegrown AI talent, research, and innovation directly in
the UAE.

The agreement was signed in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade, who commented, “This collaboration between AqlanX, Lakeba, and DoxAI
demonstrates the power of the NextGen FDI program to catalyse strategic, cross-sector
partnerships. It underscores our commitment to fostering an ecosystem that nurtures innovation
and collaboration in priority sectors like artificial intelligence.”

Giuseppe Porcelli, Executive Chairman of Lakeba and DoxAI, said, “This investment is more than
capital—it's a commitment to a shared vision. AqlanX represents the next frontier of enterprise AI in
the Middle East, and we are proud to bring our experience, technology, and strategic resources to
support its growth.”

Demetrio Russo, Founder and CEO of AqlanX, added, “With Lakeba and DoxAI behind us, AqlanX is
equipped to deliver Arabic-first AI that is not only world-class, but also born in, and for, the UAE. We
are building an innovation hub that reflects the ambitions of this region and empowers its
enterprises to lead globally.”

With its foundation backed by the expertise and intellectual property of DoxAI, and strategic capital
from Lakeba Ventures, AqlanX is positioned to become a regional leader in enterprise AI.

The NextGen FDI initiative, launched in 2022, is a core component of the UAE’s strategy to promote
investment into future-focused sectors, solidify its position as a global hub for innovation, and
accelerate the diversification of the national economy. AqlanX joins a cohort of more than 100
companies operating in sectors such as renewable energy, advanced manufacturing, and robotics.

https://www.wam.ae/en/article/bjmd0b2-aqlanx-secures-10-million-investment-from-doxai