Riyadh, Saudi Arabia, May 1st, 2023 – DXwand, a global player in AI-powered conversational technology, has announced its launch to Saudi Arabia with AstroLabs, the leading business expansion platform in the Gulf.
The strategic move comes following DXwand’s recent completion of a $4 million Series A funding round to power new product capabilities and ramp up its R&D efforts in generative and conversational AI, knowledge mining across the region, and beyond.
In the ever-changing landscape of customer experiences, conversational AI has become a vital tool to achieve unparalleled levels of convenience and personalization when managing customer interactions, leading to better customer satisfaction and brand loyalty. DXwand remains at the forefront of a new era in business communications, revolutionizing how firms engage and communicate with customers in the digital age.
In the spirit of its collaboration with DXwand, AstroLabs reaffirms its unwavering dedication to contributing to the growth and development of the country’s technology sector by facilitating a fast-tracked entry process for an increasing number of global innovators, contributing to the realization of Vision 2030.
With its comprehensive set of resources and services, AstroLabs helps prospective entrants establish a strong presence in Saudi, capitalize on lucrative market opportunities, and make meaningful connections with industry stakeholders and strategic partners.
“As a company, we remain committed to being an anchor of growth for an increasing number of innovators, such as DXwand, from all corners of the world, seeking to foster success and sustainable growth in the Kingdom’s constantly evolving digital landscape and fuel its upward trajectory,” said Alex Nicholls, director of expansion at AstroLabs.
Founded in 2018, DXwand helped over 200 enterprises enhance their customer experience and fuel business growth, leveraging a global footprint in Egypt, UAE, and USA. Making inroads into the Saudi market marks a significant milestone in the company’s growth trajectory, aligning with its mission to help businesses automate customer service and employee assistance. The company’s growth over the past few years is a testament to its success and an indicator of the positive transformation it has brought to its partner companies.
Commenting on the announcement, Ahmed Mahmoud, founder and CEO of DXwand said: “I am thrilled to announce DXwand’s expansion into the Saudi market through our esteemed partner, AstroLabs. This strategic move is not just a milestone for us but also a testament to Saudi Arabia’s burgeoning leadership in the AI sector. We are eager to tap into the region’s rich potential and contribute to its vision as a pioneer in generative AI and conversational technologies. By harnessing local talent and innovation, we aim to unlock new opportunities and drive transformative change across the industry.”
The Saudi market continues to be a global technology hub, attracting companies driving operational excellence, fortifying digital transformation initiatives, and making a lasting impact on its rapidly growing ICT sector. In terms of market value, the Saudi ICT sector is presently worth over $40.9 billion and accounts for 4.1% of the Kingdom’s GDP, making it the largest and fastest-growing in the region.
To learn about how you can enter the Saudi market, visit: www.setupinsaudi.com
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For media inquiries, please contact:
Lara Fakih, director of communications at AstroLabs (lara@astrolabs.com),
About AstroLabs:
AstroLabs is the leading business expansion platform in the Gulf, propelling high-growth companies across strategic industries. With a decade of supporting economic development in emerging markets, AstroLabs is the partner of choice for over 1,500 companies that have expanded across the region, engaging a vibrant network of 10,000+ market leaders in the UAE and KSA. Bridging key gaps in fundamental industries in the Gulf, AstroLabs designs sector-focused and outcome-driven programs in partnership with government entities and the private sector. AstroLabs is committed to building the future of key sectors, driving market access, and contributing to regional visions like Saudi Vision 2030.