G42 Leads Series A Round for UAE-Based AppliedAI

UK-founded and UAE-based AppliedAI has raised US$55 million in an oversubscribed series A round led by G42, Bessemer Venture Partners, and strategic partner e&. Middle East Venture Partners also participated in the round, which will support the company’s global expansion and deepen its reach across the MENA region.

AppliedAI, founded in 2021 by Arya Bolurfrushan and relocated to the UAE in 2022, uses artificial intelligence to automate the processing of medical billing records and insurance claims — an area typically reliant on slower, manual outsourcing methods.

The new capital injection follows a US$42 million raise in 2022 from G42 and the Al Maktoum family. The company now plans to strengthen its product offerings and increase partnerships within the UAE’s emerging AI ecosystem.