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Astana, Kazakhstan • 20 January, 2023 | 10:36

Presight.AI Agrees to Help Kazakh Startups Enter Middle Eastern Market

The Ministry of Digital Development signed a venture funding agreement with the company

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Instagram: @bagdatmussin
Instagram: @bagdatmussin

UAE-based Presight.AI has agreed to develop a venture capital fund in Kazakhstan, QazMonitor reports.

The company, which is a subsidiary of the big data, analytics, and machine learning company Group 42 signed a deal with Kazakhstan’s ministry of digital development, innovations, and aerospace industry.

Minister Bagdat Mussin shared the news on his Instagram page.

“The head of state met with Group 42 last September during the Digital Bridge–2022 forum where they reached agreements on cooperation in several promising areas. We discussed the implementation of joint projects and plans for the current year. We plan to concentrate on projects in the sphere of big data analysis, artificial intelligence and forecasting," he wrote.

According to the agreement, Presight.AI will assist startup projects from Kazakhstan, other Central Asian nations, Azerbaijan, and Mongolia to enter the Middle East and African markets.

Presight.AI is particularly known for its approach to the organization of logistics and its “single window” system that combines digitalization, BMS, logistics, seaports, airports and land transport. The minister said the company agreed to the possibility of implementing the same approach in our country.

"Kazakhstan will be able to realize its transit potential through a transition to a full-fledged digital system in the transport and logistics sector," concluded the minister.

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