Morocco-based ALTAN Space, on Tuesday, raised $1.1 million in a round led by Maroc Numeric Fund II, with participation from Legal counsel (Hilmi Law Firm) and Certified Public Accountant, Cadex Group, represented by Yassine Benhammou.
The company through Artificial Intelligence and its proprietary technology enables governments and institutions to fight environmental crime and assist vulnerable populations.
ALTAN has commercial contracts in Seychelles, Niger, and Morocco, and last year completed its first funding round from Katapult Ocean Fund, Norway.
The technology developed by ATLAN Space is the subject of several patents and has received the “African Entrepreneurship Award” innovation prize in 2017. The project was funded by the “Caisse Centrale de Garantie” (CCG) under the Innov Start program and by the United Nations Industrial Development Organization (UNIDO). The company was ranked among the 10 best artificial intelligence startups in Europe for 2018 by Nvidia.
Speaking on the development, Badr Idrissi, CEO of ATLAN Space, in a statement said,
“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.”
Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, said:
“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”.
This investment in ALTAN Space is the third investment from Maroc Numeric Fund II, the previous ones were in OnePay, a Moroccan fintech startup in July; and the other one was in KoolSkools, an edtech startup.
Maroc Numeric Fund was established in 2010 with an aim to support the technology startups in Morocco. The fund acts as an accelerator for its portfolio companies – providing access to advisory and legal support, whilst taking a seat in the boards.