Prime Highlights:
Halo AI, a Saudi-based firm specializing in AI-driven creator-brand partnerships, raises $6 million in seed funding.
The round was led by Raed Ventures (Saudi Arabia) and Shorooq Partners (UAE), with backing from former C-suite executives from major tech firms.
Key Background:
In a significant development for Saudi Arabia’s growing artificial intelligence sector, Halo AI has successfully closed a $6 million seed funding round. The investment is led by Saudi-based Raed Ventures and the UAE’s Shorooq Partners, with additional backing from prominent figures, including former C-level executives from Snapchat and leaders from Microsoft, Airbnb, Amazon, and investors behind several gaming unicorns.
This funding round represents a key milestone in the Kingdom’s broader strategy to position itself as a global leader in artificial intelligence. The National Strategy for Data and Artificial Intelligence, introduced in 2020, aims to attract $20 billion in investments by 2030 and cultivate a skilled workforce of 20,000 AI and data professionals.
Halo AI, founded to optimize collaborations between brands and creators, has developed an AI-powered platform that streamlines creator marketing by making autonomous decisions about brand-creator partnerships and optimizing campaign performance. The company claims its technology reduces manual work by 85%, while consistently delivering results that exceed industry standards. According to Halo, their campaigns boast a 97% completion rate, significantly higher than the industry average of 65%, and can be launched in just 48 hours, with creators receiving guaranteed payment within 72 hours.
Halo AI’s expansion plans extend beyond its successful launch in Saudi Arabia, with plans to enter markets in Dubai, Kuwait, and other countries across the Middle East, North Africa, Europe, and North America.
Vito Strokov, the company’s co-founder and CEO, emphasized the inefficiencies in traditional creator marketing, which Halo AI aims to address through its technology. The company has already secured partnerships with major brands such as Kitopi, ToYou, 1/2M, and Syarah. Tina Daher, principal at Shorooq Partners, expressed excitement about the platform’s impact, stating that Halo AI brings unmatched precision and efficiency to the creator economy. Wael Nafee, general partner at Raed Ventures, highlighted the rapid growth of the creator economy and noted that Halo AI’s innovative platform is well-positioned to lead the market.
