Page 355 - MOE ENGLISH PR REPORT - MAY 2025 ( Part 2)

5/22/25, 4:30 PM AqlanX secures $10m to scale Arabic-first enterprise AI
SO WHAT? – DoxAI announced that it had joined the UAE Ministry of Economy’s NextGen

FDI programme in February. The Sydney-based AI business automation company, helps

foreign technology companies establish themselves in the UAE. The investment in AqlanX is
the first new venture that has been announced, since the opening of DoxAI’s new Dubai office.

A new UAE-based company AqlanX has received a $10 million investment from Lakeba

Group, via its automation-focused venture DoxAI, to develop and expand Arabic-first

enterprise AI solutions across the Middle East.

The deal was made possible through the UAE Ministry of Economy’s NextGen FDI

programme, which supports fast-tracked market entry and scaling for global tech-driven

firms.

AqlanX focuses on automating business processes and managing enterprise documents

with AI technologies built in and for the UAE. The company was founded by Demetrio

Russo, founder and former CEO of UAE technology hardware manufacturer KERNO
Enterprises.

The company’s technology stack is grounded in DoxAI’s enterprise automation IP,

enabling rapid deployment and scaling across sectors such as finance, legal, and

operations.

As part of the deal, AqlanX, DoxAI, and Lakeba will launch an AI Centre of

Excellence with the University of Wollongong in Dubai, to support homegrown AI talent

and innovation.

Lakeba is a Sydney-headquartered venture builder with 15 businesses in its portfolio,

including three exits and multiple high-growth ventures.

Founded in 2013, Lakeba earned Microsoft Gold Partner status in 2018 and was ranked by

the Financial Times as a High Growth Company in 2020 and 2021.

ZOOM OUT – Launched in 2022 by the UAE Ministry of Economy,, the NextGen FDI

initiative is a key pillar of the country’s digital economy strategy, aimed at attracting high-

growth companies and technologies that accelerate economic diversification. The initiative

streamlines the market entry process by accelerating company incorporation, licensing, visa

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