Lumi AI, an artificial intelligence startup located in the UAE, has successfully raised $3.7 million in a seed funding round led by AgFunder. Other notable investors in this round include Forum Ventures, Abu Dhabi’s sovereign wealth fund ADQ, the Qora71 syndicate, and several angel investors.

This recent funding round is a significant milestone for Lumi AI, marking its second investment round following an earlier round in August 2023. Founded in April 2023 by Ibrahim Ashqar and Tudor Boiangiu, Lumi AI specializes in providing generative AI tools designed to help retail businesses digitize their supply chains.

The platform developed by Lumi AI allows users to generate custom reports and run statistical models using straightforward language inputs. The company serves a diverse clientele that includes mid-sized consumer packaged goods firms, third-party logistics providers, and major retailers within the MENA region.

The newly acquired funding will facilitate Lumi AI’s expansion of its conversational analytics platform. Additionally, the company plans to enhance its engineering and customer success teams while accelerating the development of new features aimed at improving its offerings.