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Start-up to increase Supercomputing Access through Partnerships
Jan 14 2020 Read 315 Times
Artificial intelligence (AI) and supercomputing start-up UnitX a spin-out of KAUST has secured $2 million of co-investment from the KAUST Innovation Fund and Saudi Aramco's Wa'ed Ventures Fund.
The injection of joint funding will support UnitX in its quest to democratise supercomputing and help enterprises of all sizes leverage technologies such as high performance data analytics to make data-driven decisions, reduce IT spending, innovate and become globally competitive through partnership structures.
Tamer Osman, head of the KAUST Innovation Fund, stated: "UnitX is bridging a new frontier in advancing big compute power and making it more accessible to sectors that have previously been unable to access the benefits of supercomputing. At KAUST, we are actively investing in startups and technology that are shaping industry 4.0, and UnitX is a deep tech startup at the forefront of this revolution."
Salman T. Jaffrey, chief investment officer at Wa'ed Ventures and an incoming board member on UnitX, praised the efforts and ambition of UnitX's cofounders—Kiran Narayanan, Ravi Samtaney, Ankita Shree and Salman Kattan—and their inspiring journey.
"We are thrilled to have led this investment with KAUST, which is testament to our fund's inimitable approach on fueling the growth of Kingdom-based startups and shared vision of advancing the Saudi venture ecosystem," Mr Jaffrey said.
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