Moroccan AI tech startup secures $1.1-million

The innovative AI technology developed by Moroccan startup ATLAN Space  has attracted a $1.1-million Series A funding round from Maroc Numeric Fund.

ATLAN Space receives funding to assist in tackling environmental crimes and aid vulnerable populations

In an official press release, Dounia Boumehdi, Managing Director of MITC Capital, which is the management company of Maroc Numeric Fund II, commented on the research and development made in AI which resulted in the creation of ATLAN Space.

“The fund management team is proud to support Atlan Space, a Moroccan startup that is the result of many years of R&D in artificial intelligence, and which has a proven technology with several clients internationally and in Morocco, with a high environmental and humanitarian impact”.

AI with a purpose 

Founded in 2016 by Younes Moumen and Badr Idrissi, ATLAN Space has developed cutting-edge AI technology that guides unmanned aircrafts, including drones to identify environmental and marine areas that face potential threats. 

ATLAN’s patent technology assists institutions and governments in combating environmental crime and assisting vulnerable populations. 

The AI-focused startup has received numerous accolades for its unique product, such as the African Entrepreneurship Award in 2017, and was acclaimed as one of the top 10 AI startups in Europe in 2018. 

Previously funded by the Caisse Centrale de Garantie (CCG) as part of the Innov Start program and by the United Nations Industrial Development Organization (UNIDO), ATLAN has proven investor-ready as it received seed funding in 2019 from Katapult Ocean Fund, a Norwegian Investment fund.

ATLAN Space aims to drive ethical uses of technology to assist with environmental protection and sustaining human life. 

Badr Idrissi, CEO of ATLAN Space, explained the development of artificial intelligence and how it assists with sustaining the environment. 

“ATLAN Space is developing artificial intelligence to enable UAVs to carry out tracking missions in total autonomy and without human intervention. This is for humanitarian purposes or to fight environmental crimes such as illegal fishing or deforestation.”

Accelerating high potential startups through investment

Maroc Numeric Fund has been operating since 2010. It is an investment fund targeting technology startups in Morocco. 

The expertise offered by the management team has resulted in several Moroccan success stories as it amplifies high potential startups. Participants in the Series A investment round also included Legal counsel, Hilmi Law Firm, and Certified Public Accountant, Cadex Group which is represented by Mr. Yassine Benhammou.

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Featured image: ATLAN Space team (Supplied)