Capstone Technology, a UAE-based blockchain and AI company, has raised $5.45 million to fund the development of its GAYA blockchain project. The project aims to create a network for entrepreneurs in the gaming, AI, and entertainment sectors. Capstone Technology plans to use the funds to manage its technology assets, develop Web3 applications, expand regionally, and improve its platform.
Sustainable digital economy solutions
United Arab Emirates (UAE)-based blockchain and artificial intelligence (AI) company Capstone Technology has recently raised $5.45 million (Dh20 million) in a seed funding round. The funds will support the development of its blockchain project GAYA.
According to a statement, the project aims to build not only a blockchain system but also a network for startups in areas such as gaming, AI, and entertainment. The broader goal is to provide innovative solutions that support a sustainable digital economy.
Commenting on his company’s successful fundraising, Abdullah Al-Mousa Al-Maksour, CEO of Capstone Technology Group, said:
This new project is a strategic step towards a start-up environment based on the use of latest technology to empower the new generation of entrepreneurs and explore new horizons for sustainable growth.
To achieve these goals, Al-Maksour said Capstone Technology will prioritize managing technology assets and developing Web3-focused applications through partnerships with emerging entrepreneurs. Additionally, Capstone Technology will use these investments to expand its regional presence, enhance its platform, and increase customer benefits.
Furthermore, the CEO stated that dedicating the new funding to support blockchain adoption among entrepreneurs is in line with the UAE’s vision of a digital economy.
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