Abu dhabi: Presight, a leader in applied AI for intelligent systems, has unveiled the 12 companies selected for Cohort II of its AI Accelerator programme.
According to Emirates News Agency, the selection followed a rigorous global application process that drew 376 applications from 62 countries. Presight conducted extensive evaluations, including application reviews and interviews, narrowing the field to 16 finalists who participated in virtual Pitch Days in June.
The shortlisted companies collectively raised over US$341 million in capital, generated US$28 million in annual recurring revenue, and achieved a combined valuation surpassing US$2.1 billion. Notably backed by Samsung Ventures, AMD, and LG, among others, the calibre of applicants was noteworthy.
Presight selected 12 companies for Cohort II, recognizing the strong finalist group and those meeting the programme's criteria. The selected companies include AIM Intelligence from South Korea, AIRMO from Germany/Luxembourg/UAE, and AITRICS from South Korea, among others.
An eight-member jury evaluated the finalists, including key figures like Fatma Essa Almheiri from the UAE Ministry of Industry and Advanced Technology and Thomas Pramotedham, CEO of Presight. The finalists represented a wide range of AI applications, including climate intelligence, infrastructure inspection, and healthcare AI.
Thomas Pramotedham praised the calibre of the finalists and emphasized the programme's role in strengthening the UAE's position in applied AI. Participants will gain access to G42 and Presight's expertise, engaging with partners and customers globally.
The Cohort II Bootcamp will occur in the coming months, offering commercial opportunities and showcasing the UAE ecosystem. Investments from Presight's venture capital arm will be available to select Cohort II companies, following the precedent set in Cohort I.