Mubadala Abu Dhabi Startup News

The latest startup news from Abu Dhabi on Mubadala.

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    Abu Dhabi Launches MGX: A $100B Global AI Investment Powerhouse

    Abu Dhabi has unveiled MGX, a new technology investment company aimed at accelerating the development and adoption of artificial intelligence (AI) and advanced technologies. Launched by the Artificial Intelligence and Advanced Technology Council (AIATC), MGX is set to become one of the world’s largest funds focused solely on AI, with a target of surpassing $100 billion in assets under management. Focusing on Key AI Sectors MGX will invest in three core areas:
  • Published on

    Mubadala invests in Reef Technology in a $700M round

    05 November 2020, Abu Dhabi, United Arab Emirates: Mubadala, Abu Dhabi’s wealth fund and an Abu Dhabi VC firm, invests in a SoftBank-backed tech startup. Mubadala, with $232B under management, led a $700M round of funding in Reef Technology Inc., a technology startup that specializes in using parking lots as hubs for delivering food and other services like Covid-19 testing. Reef Technology has an ecosystem of over 4,500 locations and a team of nearly 15,000 people.

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