UAE AI Startup AIREV Gets Investment from Venturewave Capital
AIREV, an AI start-up based in the UAE, said on Tuesday that it has received money from an Irish investment company called Venturewave Capital.
Investment Details
The investment will help AIREV grow and expand its AI platform called ‘On Demand.’ The extra money will allow the company to explore new opportunities and move into new markets, especially in the UAE and Ireland.
The agreement was signed by Muhammad Khalid, AIREV’s Founder and CEO, and Alan Foy, the Executive Chairman and Founder of Venturewave. The event was also attended by UAE Minister for Foreign Trade, Thani Al Zeyoudi, and Ireland’s Minister for Trade Promotion, AI, and Digital Transformation, Niamh Smyth TD.
Khalid said, “With On-Demand, businesses can easily and quickly build the AI they need. It’s like an App Store for AI, but more personalized and efficient.”
About the AI Platform
‘On-Demand’ helps users create their own AI tools by combining top large language models (LLMs) with hundreds of AI tools and agents. It makes advanced AI easier to use and helps speed up innovation in AI products.
The platform works on all types of hardware. This allows hardware companies to make money when people use their systems to run AI tasks.
AIREV said that more than 60,000 people are already using the platform. It supports major AI models, including ones from OpenAI, Google (Gemini), Meta (Llama), and Jais, an Arabic language model.
AIREV was founded in 2023. It is part of Microsoft’s startup program and Nvidia’s Inception program. On-Demand is fully built on Microsoft Azure. AIREV also runs other AI-based businesses, such as School Hack, an educational technology platform.
AI Investment in the GCC
A recent survey by Boston Consulting Group (BCG) showed that 81% of companies in the GCC plan to increase their tech investments in 2025.
Out of 1,803 senior executives from around the world, 72% of GCC companies listed AI and Generative AI (GenAI) as one of their top three priorities.
Companies in the region are mainly using AI investments to improve business processes and to build new AI-based business models.
Published: 16th April 2025
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