The developers of one of the earliest artificial intelligence (AI) based content-writing software in the world from Pakistan, baseH Technologies (baseH), incubated at National Incubation Center (NIC) Karachi, receive unprecedented valuation at seed funding stage. The Pakistani start-up was able to raise the seed funding at an initial valuation of over $4 million. This is the highest level of initial valuation in the AI/Tech space in Pakistan fetched by any company so far.
Talking at the event, the Federal IT Minister Khalid Maqbool Siddiqui said digital transformation of all functions, companies, communities and economies is an inevitable consequence of 4th Industrial Wave Technologies. He acknowledged that Data is the new form of wealth and value. It is now being gathered at an unprecedented scale and it is important that we develop tools to make sense of the data mount.
Companies like baseH will scale to all markets and industries across the world and this is what we need to open up world markets for our technologists, minister added. baseH has been making big waves ever since it emerged with its Artificial Intelligence writer lovingly called Dante. Valued at over $4 million, baseH has set a new benchmark for seed stage valuation in Pakistan. It is rare that a deep technology based start-up gets such kind of recognition. BaseH solutions are time and cost effective, suitable for the industries that need efficiency and accuracy.
The award-winning Pakistani company turns raw data into insightful narratives for investors/users to make timely, sensible and highly informed decisions. The baseH is Pakistan's first company developing AI-based solutions that will transform investment advisory industry with AI-driven predictive analytics; media industry with AI-based journalism/reporting; and AI-powered social image/perception management, followed by AI solutions to healthcare and law industries in near future.
Elahi Group of Companies (ECG) - an emerging conglomerate in Pakistan, has stepped in as an Angel to fund the development of this cutting-edge AI start-up. The EGC CEO Danish Elahi said, "we have made an excellent choice in choosing baseH as a strategic investment opportunity for our group. This future unicorn with a truly disruptive technology is at par with global standards and, in many ways, ahead of the industry making its way up to the AI." He further said, "baseH Technologies caught our eyes when it unveiled Dante - The Robo Journalist - and became a global story overnight."
The co-founders of the company are Anis Uddin Shiekh (CEO), Khurram Schehzad (ED & CSO), Faisal Jalil (ED) Sherjan, and Imran Ahmed Khan (ED & Creative Head). The founders are of the view that, this is the perfect time to develop AI-based products which can empower any industry having rich data environment and needs analysis tempered with real human sentiment. Dante's Sentimeter, the ROBO Analyst, Robo Advisor, Robo Twitter, and Roborator are all designed to improve the smooth, seamless functioning in media and financial industry with minimum and no human intervention
The baseH is the only company in Pakistan, and amongst only a few in the world, who requires no college or university degree when it comes to hire the best of talent.
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