The landscape of technology investment in the Middle East and North Africa is buzzing with excitement following the recent announcement by the Ukrainian venture capital fund TA Ventures. They have successfully invested $15 million in Tarjama, a Dubai-based speech technology company that is making waves across the region. This investment was recently shared by TA Ventures with AIN, signaling a boost for both companies and the broader tech ecosystem.
Investment Details
- The Series A round was led by Global Ventures, a significant player in the region’s venture capital scene. Other notable investors participating in this financing round included Wamda Capital, Phaze Capital, Golden Gate Ventures, and Endeavor Catalyst.
- Tarjama plans to leverage the newly acquired funds to expand its Arabic.AI ecosystem. Arabic.AI is an innovative AI-based solution designed to tackle complex business challenges, accounting for the unique cultural, linguistic, and economic aspects of the Arabic-speaking world.
- Over the next 18 months, Tarjama aims to double its research and development (R&D) and engineering teams, enhance its infrastructure across key industries, and establish an AI Academy. This academy is poised to train hundreds of executives from various sectors on effective AI implementation strategies.
About Tarjama
Founded in 2009, Tarjama has seen significant growth, boasting multiple offices across the United Arab Emirates and a presence in over 30 countries. The company has a remarkable track record, having processed over 2 billion words in more than 50 languages, including 22 Arabic dialects. This extensive experience positions Tarjama as a leader in the language services market.
At the forefront of their innovative offerings is Pronoia V2, touted as the world’s first top-tier large language model (LLM) meticulously designed for Arabic. This cutting-edge product promises exceptional performance, security, and contextual accuracy, surpassing competitors like GPT-4o, DeepSeek-V3, and Cohere in Arabic-specific tasks. The introduction of Pronoia V2 not only sets a new standard for Arabic language technology but also emphasizes Tarjama’s commitment to enhancing linguistic capabilities in the region.
In related news, Ukrainian platform Pleso Therapy, dedicated to improving psychological health, recently raised $1.2 million in funding. Key investors in this round included Vchasno Group, a collective of IT product companies, and TA Ventures, further showcasing the latter’s active participation in supporting innovative projects across various sectors.
