Dubai - Sharikat Mubasher: AIREV, one of the fastest-growing AI companies in the Gulf region, secured investment from Irish-based venture private equity firm Venturewave Capital to accelerate its growth trajectory as it scales one of the world’s first AI operating systems, On-Demand.
The signing of the funding agreement was held in a ceremony attended by Thani Al Zeyoudi, UAE Minister for Foreign Trade, and Niamh Smyth, Ireland’s Minister for Trade Promotion, AI and Digital Transformation, the company unveiled in a press release today.
The deal with Venturewave Capital, which is active across diverse asset classes in Europe, the US, ASEAN, and the Middle East, will enable On Demand to access new opportunities and specifically expand to new market territories from the UAE and Ireland.
Designed to power the post-Artificial General Intelligence/Artificial Super Intelligence economic shift, On-Demand allows users to build their own AI applications by combining the world’s leading large language models with hundreds of agents and AI tools.
Commenting on this milestone, Smyth said: “Venturewave Capital’s investment in AIREV highlights Ireland’s role as a connector of global tech innovation. AIREV’s work in Artificial Intelligence, from education to healthcare, exemplifies technology’s power to transcend markets."
For his part, Muhammad Khalid, AIREV’s Founder and CEO, stated: “Since we launched On-Demand, we have seen amazing early growth, and built an incredible community of global users. We look forward to working alongside VentureWave Capital and all our partners to expand the market for highly tailored, powerful AI solutions for developers and enterprises.”
AIREV already has commercial deployment agreements with computer systems and components supplier Panchea and AI systems and technology solutions provider AIdeology (an Nvidia Elite Partner), and is in commercial and R&D discussions with Fortune 500 semiconductor companies.
Over 60,000 users have already adopted the new platform, which offers access to inference capabilities across leading models, including those from OpenAI, Google's Gemini, Meta's Llama, and Arabic language model Jais, developed by Inception, a G42 company.