Perfect Vision Raises $20M in Convertible Note Funding

• Perfect Vision secured $20 million in a Convertible Note funding round on October 17, 2024, to fuel growth in IoT, AI, and 4IR technologies.
• The company specializes in providing safety and logistics solutions for industries like construction, oil and gas, and electronics.
• It plans to scale its operations in the Industrial Internet of Things (IIoT) and Artificial Intelligence of Things (AIoT) spaces across EMEA and GCC regions.
• The funding supports its mission of promoting safety, collaboration, agility, and ethics in industrial sectors, aligned with Saudi Arabia’s Vision 2030.

Dammam-based technology firm, Perfect Vision, has secured $20 million in a recent Convertible Note funding round, held on October 17, 2024. The company, known for its cutting-edge advancements in IoT and AI systems, focuses on providing innovative solutions for safety and logistics across industries such as Construction, Oil and Gas, and Electronics.

The funding will enable Perfect Vision to scale its manufacturing and development efforts, particularly in Industrial Internet of Things (IIoT), Artificial Intelligence of Things (AIoT), and 4IR (Fourth Industrial Revolution) technologies.

Since its inception in November 2017, the company has established itself as a leader in delivering high-tech solutions in Saudi Arabia and beyond, operating in strategic regions like Europe, the Middle East, and Africa (EMEA) and the Gulf Cooperation Council (GCC).

Expansion and Technological Focus

Perfect Vision, also legally known as Perfect Vision Factory, has grown rapidly since its founding by Saleh Al Omar, reflecting Saudi Arabia’s broader ambitions in technological advancement, as outlined in the country’s Vision 2030 plan.

The company aims to revolutionize industries by incorporating AI, robotics, machine learning, and big data into industrial applications. The firm’s smart factory model is based on leveraging immersive technology and advanced analytics to meet modern industry demands.

The funding from this round will significantly contribute to the company’s expansion, particularly in the safety and logistics domains, where IoT technologies are key to optimizing operations.

Perfect Vision’s ability to combine AI with IoT has made it a vital player in transforming industrial sectors, ensuring both efficiency and safety. This has been critical in sectors such as construction and oil and gas, where safety and operational agility are paramount.

Mission and Strategic Outlook

Perfect Vision’s core mission is built on five key pillars: Safety, Collaboration, Agility, Diversity, and Ethics. The company is committed to creating secure environments through innovative technologies, working closely with industry stakeholders, adapting to rapid changes in the technology landscape, and upholding the highest ethical standards. Its long-term vision is to leverage these advanced technologies to not only solve current industrial challenges but also improve lives and promote sustainable development.

The recent funding will also support the company’s efforts to advance its research and development in AIoT solutions, making its operations more adaptable to future demands. As Saudi Arabia continues to push towards becoming a global hub for technology and innovation, Perfect Vision is well-positioned to play a pivotal role in this transformation.

This investment will allow the company to continue leading with solutions that merge technology and industry, all while protecting the environment and driving human progress.

News Source: Crunchbase

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