e& capital invests in Ikigai Labs to bring generative AI to all enterprises in MENA

e& capital participated in the $25 million Series A financing round for Ikigai Labs, joining Premji Invest, and Foundation Capital. The funding will advance Ikigai Lab's vision of transforming enterprises' utilisation of AI, enabling organisations to master AI through the Ikigai Academy and the easy, fast, and powerful Ikigai platform.

e& capital’s investment is meant to harness the power of generative AI for tabular data for enterprises in MENA.

Ikigai Labs offers a no-code AI solution, helping organisations address the challenges of harnessing large datasets and ensuring accurate forecasting. The company's innovative approach combines state-of-the-art time series forecasting with three core tools: aiMatch for data reconciliation, aiCast for prediction, and aiPlan for scenario planning.

Devavrat Shah, Co-founder and Co-CEO, Ikigai Labs, saw the challenges that both individuals and enterprises faced in trying to the latest technological innovations in AI. He added, “With Ikigai, we see a clear opportunity to help the global workforce harness the power of AI. We are excited to work with e& capital, Premji Invest, Foundation Capital, and luminaries like Diane Greene, who are enabling us to make Generative AI for tabular data truly effective across enterprises.”

Ikigai Lab's platform is enriched by the innovative Expert-in-the-Loop (EiTL) approach to reinforcement learning. Along with this easy, fast and powerful platform, Ikigai Academy has trained over 6,000 students from 90+ countries on topics such as “No Code AI” and “Time Series Forecasting”.

Eddy Farhat, Executive Director, e& capital, said: “We believe Ikigai is poised to revolutionise the way businesses engage with AI. First, by prioritising functional teams and meeting them where they are on their AI journey both through their powerful, intuitive AI platform and through their engaging, hands-on academy. Second, while the tech world is enamoured with text- and image-based generative AI, Ikigai recognises the substantial value of tabular data, the true treasure trove for most businesses.”

Farhat feels that “AI is one of humanity’s most powerful technological levers, and e& capital’s investment in Ikigai is a testament to their confidence in Ikigai’s mission to democratise AI and make it more accessible.”

With this investment in Ikigai Labs, e& capital reaffirms its dedication to championing innovative technologies. This strategic move is anticipated to catalyse the next generation of AI-driven solutions, heralding a smarter, data-centric business world.