Saudi AI startup Intelmatix secures investment from STV and Sultan Holdings

Saudi AI startup Intelmatix secures investment from STV and Sultan Holdings

Saudi Arabia-based AI startup Intelmatix has raised an undisclosed investment round, led by STV and Sultan Holdings.

Founded in 2021 by a group of MIT graduates led by Anas Alfaris and Ahmad Alabdulkareem, Intelmatix provides both public and private sectors with accessible AI and advanced analytics that delivers technologies to improve operations, productivity, growth, and sustainability.

Intelmatix’s technology currently focuses on “location intelligence” which maps the relationships between spatial, social, economic, and demographic data and makes predictions using AI and advanced analysis to solve problems of “where, what, when?”. It gives previously unavailable insight for high-stakes business decisions, such as choosing the most profitable location for a new branch, the best land to invest in, or where to optimally place storage and operations centres for logistics companies.

Artificial intelligence technology is expected to contribute SAR500 billion ($133 billion) to the Saudi economy by 2030. 

Intelmatix plans to use the investment to develop its location intelligence technology.  

Press release:

Intelmatix, a deep-tech Artificial Intelligence (AI) company, has closed its investment round led by STV, Mena’s largest venture capital fund, and Sultan Holdings, a leading strategic investor in some of Mena's largest companies.

Intelmatix, which is headquartered in Riyadh, Saudi Arabia,