Page 345 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

5/22/25, 4:29 PM AqlanX gets $10m from DoxAI for Arabic-first enterprise AI
The company’s roadmap is tightly aligned with the UAE’s innovation and digital economy strategy,
positioning the nation as a hub for AI and innovation-driven ventures.

As part of its national capacity-building strategy, AqlanX, DoxAI and Lakeba have also formed a
strategic partnership with the University of Wollongong in Dubai (UOWD) to establish an AI Centre 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.

In February, The Ministry of Economy has announced that DoxAI, a provider of AI solutions designed

to simplify business processes and reduce operational complexities, has joined its NextGen FDI
initiative.

The programme, which seeks to attract high-growth advanced technology companies to the UAE, will

support DoxAI in establishing its regional headquarters in Dubai and scaling its operations to serve
regional and global markets.

DoxAI applies AI and machine learning to streamline document processing, automate data extraction,
and enhance identity verification, delivering real-time, actionable insights for businesses.

By reducing the need for human intervention and integrating seamlessly with existing business

systems, DoxAI enables organisations to optimise their operations, reduce costs, and focus on

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