By : Mohamed Elkholy – Nalley Abd Hamid
The Omnichannel conversational AI and digital assistants tool, DXwand, has announced the closing of its pre-Series A investment round of $1 Million, led by Huashan Capital, and with commitments from angel investors Mr. Mohsen Abulleil and Mr. Ahmed Bakeer. US-based VC firm SOSV, the earliest investor in DXwand’s seed round, has also supported the due diligence and syndication of this fundraising round as part of its strong belief in the company’s success.
“Conversational interfaces are the future of user engagement and we think that the DXwand team is very well positioned thanks to their proprietary Arabic dialects NLP and personalized recommendations engines that sets them apart from the rest of the competitors. DXwand was one of the first investments for SOSV in MENA; the positive experience led more than a dozen investments in the region,” Says Oscar Ramos, SOSV General Partner.
“What we liked about DXwand was that it provided a clear quantifiable value proposition to its clients – reducing customer service time by 70%, greatly reducing manpower needed, and driving up to 3 times higher customer engagement,” said David Chen, of Shanghai based Huashan Capital.
“We’re very proud to invest in the DXwand team. The results and growth that they have achieved so far are testaments to the value of their products and services. AI powered customer services are blossoming across the globe in every customer-facing interaction, and we’re looking forward to supporting DXwand’s efforts to expand into the whole MENA region,” Chen added.
DXwand is a smart, AI-driven software that automates text and voice conversations between customers and businesses in call centers, Facebook Messenger, WhatsApp, via SMS, or on a website. Their conversational AI tool understands slang in both Arabic and English, and can extract insights from conversations and display them on dashboards for businesses to make instant, informed decisions.
Their analytical platform and dashboards with deep business insights supports business growth by transforming conversations into leads and sales with focus on customers’ retention and acquisition.
