- November 2, 2020
- Category: Investment, MNF II
ATLAN Space is pleased to announce that it has raised MAD 10 million from Maroc Numeric Fund II.
Artificial intelligence at the service of the supervision of large geographical areas for humanitarian and environmental purposes
ATLAN Space develops artificial intelligence to guide unmanned aircrafts (UAV) in their data collection and tracking missions over large geographical areas. This technology enables governments and institutions to fight environmental crime and assist vulnerable populations. Badr Idrissi, CEO of ATLAN Space, 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.”
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.
ATLAN Space has commercial contracts in the Seychelles, Niger and Morocco. It has already completed a first round of seed funding in 2019 with the Norwegian investment fund “Katapult Ocean Fund”.
This is the 3rd investment of the new fund Maroc Numeric Fund II and the 20th investment of its management team, taking into account the investments made by the fund Maroc Numeric Fund I, which is now in a divestment phase.
Mrs. 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”.
Maroc Numeric Fund is since 2010, the reference investment fund in technology startups in Morocco. The expertise accumulated by its management team has led to the emergence of several Moroccan success stories. More than a simple financial leverage, Maroc Numeric Fund is a real accelerator for high-potential start-ups. It acts as an active shareholder by providing its portfolio companies, in addition to investment, with advisory and support for their managers, while holding a seat on their boards.
Participants in this operation were :
- Legal counsel : Hilmi Law Firm
- Certified Public Accountant : Cadex Group, represented by Mr. Yassine Benhammou
About Atlan Space
ATLAN Space is a startup developing Artificial Intelligence to guide unmanned aircraft (UAV) in their data collection and tracking missions over large geographical areas. Since its creation in 2016 by Younes Moumen and Badr Idrissi, the company has set itself the objective of putting cutting-edge technology at the service of environmental protection and the safeguarding of human life.
ATLAN Space campaigns for more ethical uses of technology while developing viable and sustainable economic models.
Contact ATLAN Space:
About Maroc Numeric Fund II
Maroc Numeric Fund II (MNF II) is an institutional fund dedicated to financing Moroccan technology startups with high growth potential. It was created as part of the Innov Invest program launched by the Caisse Centrale de Garantie (CCG), and its shareholders include CCG, Attijariwafa Bank, Chaabi Capital Investissement, BMCE Bank of Africa and MITC, the Technopark’s managing company.
MNF II is the successor to the MNF fund launched in 2010 and reaching the end of its investment period in 2016, which had made 17 investments in Moroccan technology startups in various fields.
Maroc Numeric Fund II is a limited company under Moroccan law, whose head office is located in Technopark Casablanca.