• Qatar Development Bank (QDB) has signed a strategic investment agreement with Saudi Arabia-based AI startup Nybl and the USA-HQ sharia-compliant investment robo-advisory Wahed, without disclosing the investment amount, as part of the Startup Qatar programme.
• Noor Alnahhas founded Nybl in 2018. Its main goal is to use AI to predict errors that will happen in real time and offer solutions for describing, stopping, and making the best use of them in areas like energy, healthcare, and agriculture.
• Wahed, founded in 2017, is a licensed company in the UAE and supported by several regional investors. In January 2022, the company raised $25 million in a funding round led by Wa’ed along with BECO Capital. Later in June of the same year, Wahed secured an investment of $50 million, also led by Wa’ed.

Source: EntArabi

Nybl, a Saudi company specialising in developing AI-based technologies, has signed a strategic investment agreement with the investment arm of Qatar Development Bank as part of the Startup Qatar program, which aims to highlight regional talent and support AI growth in Qatar.

Founded in 2018 by Noor Alnahhas, Nybl focuses on applying AI technologies to predict real-time errors, offering solutions for their description, prevention, and optimisation in key sectors such as energy, healthcare, and agriculture, thereby enhancing productivity and reducing costs.

The company also offers its N.Vision technology, which provides businesses with real-time insights into customer experience, contributing to improving service quality and increasing customer satisfaction.

QDB has also invested in the USA-HQ sharia-compliant investment robo-advisory Wahed, without disclosing the investment amount.

Founded in 2017, Wahed is a licensed company in the United Arab Emirates and supported by several regional investors. In January 2022, the company raised $25 million in a funding round led by Wa’ed along with BECO Capital. Later in June of the same year, Wahed secured an investment of $50 million, also led by Wa’ed.

Wahed is a digital investment platform compliant with Islamic Sharia law, offering access to diversified investment portfolios for residents in the UAE, UK, USA, and Malaysia.