Kazakhstan-based startup SHAI has secured a $1 million investment from Ruslan Adilbayev, the principal beneficiary of Uzbekistan’s AVO Bank, as reported by Astana Hub.
SHAI specializes in artificial intelligence (AI) technologies, offering a platform for clients to create their own AI agents and digital assistants. Its solutions are particularly in demand across industries such as manufacturing, education, and the public sector.
Earlier this month, SHAI began a collaboration with Galvani Bioelectronics Limited, a joint venture between Alphabet (Google’s parent company) and pharmaceutical giant GSK. The partnership marks a significant step as SHAI plans to expand its presence into Western markets.
Ruslan Adilbayev became an investor in SHAI in March. The startup’s leadership stated that attracting substantial funding from the AVO Bank beneficiary is a strong endorsement of their product’s quality and its potential on the international stage.
The investment will enable SHAI to accelerate its growth, enter new markets, and gain greater flexibility to test innovative ideas. Over the next 12 months, the company plans to significantly expand its team and scale its business operations beyond Kazakhstan.
Ruslan Adilbayev is also the founder of the Kazakhstani investment company Elidi Securities. In 2023, he acquired Uzbekistan’s AVO Bank, focusing on its digital transformation. Adilbayev is known for his active investments in biotechnology startups, including projects related to cancer treatment drug development.
Kursiv Uzbekistan reported on the startups supported by IT Park Ventures.
