Koble, an AI-powered platform that improves investment decisions, has reportedly secured $1.2m in pre-seed funding.
The investment was led by UAE-based investment firm Modus, according to a report from Wamda. Pitchdrive also joined the round, alongside a group of unnamed angel investors.
With the capital, the company plans to enhance its algorithms and technology.
Koble claims its AI technology can identify early-stage investments that outperform the market. The company structured massive volumes of publicly available information into a unique dataset, which its algorithms use to source, evaluate and invest.
Koble co-founder and CEO Damian Cristian told Wamda, “The ‘normal science’ of the venture capital industry relies on subjective value judgments. Everyone sat around a table comparing founders, startups, and business models with the same metrics.
“We’re coming at this from a completely different angle, asking what if the paradigm shifted and startup investors adopted a dispassionate, quantitative approach? Investors have spent the past decade saying that quant VC is impossible. They’re wrong, and we have the data to prove it.”
Another investment focused FinTech company in the Middle East is baraka. Earlier this week, the WealthTech company secured a $20m Series A round, which was led by Valar Ventures.
It launched in 2021 and provides investors in the region with access to commission-free investing and access to over 6,000 US stocks and ETFs.
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