Venturewave invests in UAE-based AIOS pioneer AIREV

Creators of OnDemand platform, AIREV opens Series A funding round

Apr 15, 2025

Muhammad Khalid, Founder & CEO of AIREV (Image supplied)

#UAE #Ireland #funding – UAE artificial intelligence start-up AIREV has secured investment from Ireland-based venture private equity firm VentureWave Capital as part of its Series A funding round. The fund raise is to support the global growth and development of AIREV’s flagship product OnDemand, one of the world’s first agentic AI operating systems (AIOS). Backed by Core42, a subsidiary of by Abu Dhabi AI powerhouse G42 Group, AIREV also allows digital infrastructure providers to monetise their investment, and is expanding its infrastructure partnership model to new global markets, including Ireland.

SO WHAT? – Founded in 2023 by Muhammed Khalid, Dr Youssef Youssef and Kayaan Unwalla, AIREV launched OnDemand, as one of the first agentic AI development platforms in July 2024. Onboarding about 25,000 developers during its first six weeks, the platform now has over 60,000 users globally. More than 300 specialised AI agents are available on its marketplace, and the site also seamlessly integrates with major ERP and CRM systems like Salesforce, SAP, and Microsoft Dynamics. With 2025 already much feted as ‘the year of agentic AI’, platforms such as OnDemand are bound to find themselves in the spotlight.

Here are some key points about AIREV and the new funding:

UAE AI start-up AIREV has secured investment from Venturewave Capital, a VC firm headquartered in Ireland and focused on high-impact entrepreneurial ventures. The funding agreement, which will form part of the company’s Series AI round, was signed in the presence of UAE and Irish government ministers. The value of the investment was not disclosed.
AIREV is backed by Core42, a G42 company, which made a strategic investment in the venture during a Seed round in mid-2024.
With over 4 million AI-first users worldwide, AIREV owns, develops and manages the OnDemand agentic AI development platform and School Hack, the global AI-powered edtech platform.
Launched in July 2024, OnDemand is an agentic AI operating systems (AIOS) that empowers all levels of users to fast-track development, integration and deployment of production-ready AI and IoT apps. Last week, OnDemand went live with a new user interface upgrade.
OnDemand currently supports over 60,000 users globally, enabling them to accelerate development cycles and create production-ready AI applications fast, and with fewer resources, The platform provides seamless integration with leading language models and a library of over 300 specialised autonomous agents.
On-Demand partners with digital infrastructure providers allowing them to offer the AI development platform and so monetise infrastructure investments, creating new revenue streams.
The platform supports inference and app building using AI models from OpenAI, Google, Meta, and G42’s Arabic-centric Jais LLM, with integrations to Salesforce, SAP, and Microsoft Dynamics.
AIREV has several existing commercial deployment agreements including deals with Panchea and Nvidia Elite Partner AIdeology, and is in discussions with several Fortune 500 semiconductor firms.
AIREV also enjoys a close relationship with Microsoft, joining Microsoft’s Start-Up Program Founders Hub in 2023. before building OnDemand on Microsoft Azure Sovereign Cloud, leveraging Core42’s Compass suite of cloud-based tools, APIs, and custom AI models.
VentureWave Capital is active across diverse asset classes in Europe, US, ASEAN and the Middle East, The firm has previously invested in the Seed round of New Cairo-based iSchool (an online coding platform for students aged 6 to 18 years old); and in Hong Kong-based viACT, which provides scenario-based vision intelligence solutions for risk prone workplaces
VentureWave Capital Chairman, Alan Foy and Managing Partner, Brian Martin, recently spoke at the AIM Congress 2025 in Abu Dhabi.

ZOOM OUT - With an forecasted spend on ICT of $141 billion this year1, the GCC states have long had a global reputation of buying the latest technology from the best global ICT vendors. However, until quite recently there has been very little technology actually developed in the region, let alone exported outside of it. Widespread government adoption of artificial intelligence seems to have provided the catalyst for local R&D and innovation ecosystems. Over the past two years, the UAE ecosystem has produced a number of exciting AI startups with world class solutions ready to compete in global markets. UAE-based AIREV is one of those leading the charge.

[Written and edited with the assistance of AI]

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