Capstone Technology, a blockchain and artificial intelligence company from the United Arab Emirates, has announced its latest funding of $5.45 million to develop its blockchain project, GAYA further.

The company wants to expand its technology and create a network of creative entrepreneurs in the gaming, AI, and entertainment industries. This funding round marks a significant leap forward for the company.

Capstone Boosts GAYA Project with New Funding for Blockchain Growth

Capstone Technology leads the GAYA project in developing a strong blockchain system and an ecosystem to foster business at launch in these high-speed regions. With additional funding raised, the company intends to improve technological capability, build Web3 applications on top, expand into new regions, and improve the overall performance of the entire platform.

Capstone Technology was established to attain a healthy digital economy by collaborating with other firms and implementing advanced solutions. This agreement is in line with that strategy.

With the recent fundraising, Al-Maksour, the CEO of Capstone Technology, spoke about the company’s long-term vision. He explained that the main consensus in the company would be on technological asset management and new entrepreneur relations, focusing on creating applications on Web3.

Further, the CEO added that compensating these extra funds as an incentive to business enterprises to apply blockchain technology aligns with the overall UAE strategy for a digital economy. This commitment also underlines Capstone Technology’s significant role in promoting innovative technologies and building a solid regional digital infrastructure.

Capstone Technology Secures Dhs 20 Million in Initial Funding

Capstone Technology reportedly closed its first fundraising cycle at around Dhs 20 million. These funds are attributed to the company’s ambitious venture, the “GAYA” Blockchain Project, which targets entrepreneurship oceans in several fields, including entertainment, gaming, artificial intelligence, and adherence to environmental, social, and governance norms. 

The “GAYA” project will develop and provide an advanced blockchain system and an integrated network to foster entrepreneurship and sustainably drive a digital economy with creative ideas.

The head of Capstone Technology Group, CEO Abdullah Al-Mousa Al-Maksour, explained the reasons for implementing this new project, saying it was a key first step towards creating an entrepreneurial ecosystem through the use of modern technologies to enable a new generation of entrepreneurs and explore fresh avenues of development.

Capstone Technology will acquire and operate core technological assets focusing on Web3 technologies and mobile apps to further the scope of “GAYA.”.

These will indeed be developed with the help of a series of strategic alliances. According to Al-Maksour, the newly acquired funds are needed to enhance the company’s platform, increase its visibility in the UAE and throughout the Arab world, and add extra value to consumers.

UAE’s Digital Transformation Driven by Capstone’s GAYA Project

As demand for blockchain and artificial intelligence technologies is growing, Capstone Technology will lead this growth within the UAE tech ecosystem. This technology relies on Capstone’s long-term plan to support entrepreneurship and enhance creativity.

Abdullah Al-Mousa Al-Maksour is the CEO of Capstone Technology. He has just been introduced and has spoken about the “GAYA” project in connection with the UAE government’s more extensive plans for the growth of the digital economy. 

Such projects, bringing blockchain technology into business ventures, are a substantial part of speeding up growth in this area. AI and blockchain technologies are being developed more quickly in the UAE than in any other country. AI could account for as much as 14% of the UAE’s GDP by 2030. Rapid development shows how diligently the government seeks to use those tools to increase the state’s economic activity.

Final Thoughts

Capstone Technology raised funds for the GAYA project, which is a plus for the company’s future. This also aligns with the UAE’s desire to be a hub for digital innovation. Notable funds will be invested in blockchain and AI, revolutionizing business. This will also help enhance Capstone’s technological capabilities and give the company more regional authority.