French vision AI company Alteia closes its latest funding round

French vision AI company Alteia closes its latest funding round

Alteia, the European leader in vision AI and industrial software innovation, announces today that it closed its latest funding round led by Wa’ed Ventures, the venture capital arm of Saudi Aramco.

Through this investment, Alteia will increase its presence in the Kingdom of Saudi Arabia by opening an office in Dhahran to support some of the leading industrial companies in the MENA region, and develop and deploy industrial vision-based solutions. The company also aims to consolidate its position as a key global player in vision AI by investing massively in research and development, targeting predictive maintenance and asset management applications in the energy sector.

“This transaction demonstrates the strong interest in Alteia’s technology and affirms its leading position in the ecosystem of enterprise AI software companies. It comes in addition to the investment made from leading global technology investor Intel Capital and demonstrates the growing interest in vision AI, as 80% of organizations will leverage some form of computer vision by 2023 to monitor their activities,” says Michael De Lagarde, President and CEO of Alteia.

"Our investments in deep tech companies have always centralized around a core focus, which is to cultivate the growth of technological applications that have global impact,” says Fahad