Hazen.ai secures follow-on funding from Waâed
Saudi Arabia-based Hazen.ai, has received a follow-on investment from Wa’ed, the entrepreneurship arm of Aramco. The startup received its first-ever funding from Wa’ed back in 2019.
Founded in 2017, Hazen.ai by Sohaib Khan, Saleh Basalamah, Anas Basalamah, and Muhammad Amin, the startup leverages artificial intelligence (AI) and machine learning technologies to improve road safety software and traffic systems. Hazen.ai’s software systems help reduce fatalities by enabling law enforcement officials to spot dangerous drivers quicker.
Earlier this year, the company won a global award from the International Road Federation for its traffic management systems.
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JEDDAH: Wa’ed, the entrepreneurship arm of Saudi Aramco, on Thursday announced it had boosted its investment in an award-winning startup offering smart traffic-monitoring services.
Hazen.ai uses artificial intelligence (AI) technology to improve road safety, by providing cutting-edge detection solutions for traffic enforcement. The startup is aiming to use the latest funding to bid for new business around the world.
“This second round of financing from Wa’ed will enable Hazen.ai to bring its life-saving technology to more regions around the world,” Sohaib Khan, chief executive officer and co-founder of Hazen.ai said.
Wassim Basrawi, managing director of Wa’ed, said: “Companies like Hazen.ai are great ambassadors to showcase the Kingdom’s entrepreneurial energy and talents to the world.
Saudi Electricity Company (SEC) has obtained three “ Recognized for Excellence” certificates at once in institutional excellence from the European Foundation for Quality Management (EFQM).
Averos receives follow-on funding from Waâed Ventures
According to the startup’s release, the investment was closed in November of 2020.
Launched in 2016 by Yusuf Sabadia, Shaharyar Ali Anis, Saleh Basalamah, and Anas Basalamah, Averos produces contactless remote monitoring technologies that enable real-time tracking of individuals, goods, and vehicles both outdoors and within large buildings, convention halls, airports, hospitals, etc.
The new investment is the second from Wa’ed Ventures and comes at a time when Averos’ products are gaining ground in Europe. Averos plans to use the latest funding to further expand into the European healthtech market.
“We are grateful for this second investment and vote of confidence from Wa’ed, the leading supporter of entrepreneurs in Saudi Arabia. It is not easy for Saudi tech startups to get the attention and funding they deserve, and Wa’ed is playing a critical role in filling this gap and driving entrepreneurial culture in