Dubai, UAE – UAE-based AI startup Lumi AI has successfully secured $3.7 million in a Seed funding round led by AgFunder, with participation from Forum Ventures, ADQ, Annex Investments, Qora71, and other angel investors.
The company will use the capital to expand its engineering and customer success teams, accelerate product development, and support its growing global client base.
Founded in April 2023 by Ibrahim Ashqar and Tudor Boiangiu, Lumi AI empowers retail businesses to digitize their supply chains using generative AI.
Its platform features a conversational AI assistant that acts as a personal data analyst, enabling users to generate custom reports, run statistical models, and extract insights using natural language—eliminating the need for coding.
Clients span mid-sized consumer packaged goods (CPG) and third party logistics (3PL) businesses to recognizable enterprises, including an F10 retailer, one of North America’s largest meal-kit providers, a top 4 consulting firm, and the largest luxury retailer in the MENA region.
The interface, which integrates with clients’ supply chain software, operates as an intelligent assistant, helping users retrieve and interpret data, generate charts and extract tailored insights that previously would have taken days to pull together, says Ashqar.
“We founded Lumi AI to break down the barriers between businesses and their data. With this funding, we’re accelerating our mission to help companies democratize access to intelligence and transform decision-making at scale.”
