Tech News
Presight Delivers Record-Breaking Financial Performance for FY 2024
Presight AI Holding PLC recently announced its financial results for the full year ending December 31, 2024. Presight’s FY 2024 results saw record revenue of AED 2,213 million, an increase of 24.3% compared to FY 2023 as the Company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations.
The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED 635.4 million due to a favourable deployment mix in FY 2024. At its bottom-line, the Company reported net profit after tax of AED 612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of Corporation Tax.
Presight’s top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the Company’s expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight’s revenue and booked a 3.5x increase to AED 508.2 million in FY 2024.
Moreover, Presight’s highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight commented:
“Presight’s full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.”
Thomas Pramotedham, Chief Executive Officer of Presight, commented:
“The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realizing their strategic AI ambitions by adopting ‘Applied Intelligence’ today.
“FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth.
“We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology.
“We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world’s first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition.
“These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders.
“I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.”
The 2024 business highlights include:
- Renewed existing and negotiated new domestic/international contracts with a value of AED 3.6 billion.
- Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate ‘Applied Intelligence’ AI projects across the region.
- Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector.
- Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain.
- Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan.
- Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions.
- Launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program.
- Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors.
- Received the “UAE AI Data Analytics Innovator of the Year” Award by Dell Technologies.
- Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications.
Tech News
MAXION REPORTS 399% USER GROWTH AMID RISING DEMAND FOR REAL-WORLD CONNECTION PLATFORMS

MAXION, a UAE-based platform empowering social connections, has reported 399% year-on-year growth in its user base in 2025 following the introduction of an AI-powered infrastructure designed to prioritise real-world interaction. The growth reflects strong adoption of the platform’s technology-driven approach to facilitating meaningful relationships. Over the same period, the company reached a 406% increase in annual recurring revenue.
MAXION operates as a hybrid SaaS and marketplace platform built on an AI-powered system that processes behavioural, scheduling, and conversion data across the full lifecycle of an interaction. The system analyses availability alignment, time to meeting, attendance confirmation, repeat meeting patterns, and structured feedback following in-person meetings, helping members move from introduction to real-world conversation more efficiently. To support the continued development of these capabilities, MAXION has secured $900,000 in early-stage funding, which has been allocated toward AI integration, infrastructure development, senior product hires, and operational expansion.
The UAE’s international population provides a strong environment for MAXION’s growth, with Dubai alone home to a rapidly expanding base of ultra-high-net-worth individuals (UHNWIs). At the same time, the UAE online relationship services market is anticipated to grow by more than 9.21% by 2031, highlighting sustained demand for platforms that help individuals form meaningful connections in fast-moving urban environments.
To date, more than 40,000 individuals have applied to join MAXION, with approximately 7,000 active members accepted into the curated community. Through a selective onboarding process, the platform maintains a gender balance close to 50:50, compared with traditional platforms where participation averages approximately 70:30 male to female. The community primarily consists of high-performing professionals aged 25 to 45 working across finance, consulting, technology, entrepreneurship, and senior corporate leadership roles.
Christiana Maxion, Founder and CEO of MAXION, said: “Our long-term vision is to restore real-world connection in a fast-moving world. Technology should help people meet sooner rather than spend months behind a screen. We use data to make it easier for people to meet at the right time, allowing members to focus on getting to know each other rather than spending weeks in digital conversation. MAXION is designed to move people from introduction to real conversation quickly, where interactions feel more natural, and intentions become clearer. Over time, we want to build a platform that supports strong partnerships and lasting communities.”
In the past six months alone, MAXION has facilitated more than 2,000 in-person meetings between members. The platform measures success by the relationships formed between members, with users typically returning every three months and continuing to engage with the app over periods of up to two years. MAXION has also established strategic partnerships with brands to reduce logistical friction surrounding real-world meetings and create a smoother experience for members.
Adoption is currently concentrated in Dubai, with growing traction in Abu Dhabi. The company plans to deepen its presence across the UAE while preparing for expansion into international professional hubs such as Singapore, London, and New York, where dense expatriate populations and fast-paced professional environments create similar demand for intentional connection.
Over time, MAXION aims to support members beyond the first stage of connection by creating value for couples as their relationships develop. The long-term vision is to help build urban communities where meaningful relationships remain central to modern professional life.
Tech News
Yango Tech launches Industrial AI Agents to accelerate UAE’s digital workforce agenda
Yango Tech, B2B technology solutions provider by Yango Group, launches a new business practice focused on developing and deploying autonomous industrial AI agents. These AI agents are designed to execute real operational tasks across customer service, analytics, compliance, and decision-making, serving industries such as fintech, medtech, e-commerce, logistics, smart cities, and the public sector. Yango Tech offers both ready-to-deploy solutions and a customizable platform for building AI agents tailored to the specific needs of each business. This new business direction addresses the rapidly growing demand across the Middle East for scalable AI systems that deliver measurable business impact, as the region accelerates toward a projected $320 billion AI economy by 2030.
AI Agents connect directly to enterprise applications and data sources, including CRM, HR and finance systems, allowing AI to act like digital employees with memory, execution capabilities and built-in security. For governments and enterprises building digital workforces and smart cities, Yango Tech deploys AI employees across customer support, sales, recruitment and debt recovery, delivering 95% first-contact resolution, faster hiring and up to $100K in monthly operational savings. Its Smart City stack enables digital twins, emergency navigation, mobility optimization and real-time urban analytics, helping municipalities accelerate decision-making, improve traffic flow, and reduce energy and operational costs through AI-powered city modelling and dispatch optimization.
In the medical world, Yango Tech reduces physician admin workloads through appointment transcription, smart search across electronic medical records, imaging analysis and AI and BI command centres. The solutions automate documentation, surface unified patient data in seconds, improve diagnostic accuracy and enable clinicians to treat more patients. In financial services, AI functions support front-, middle- and back-office transformation through AI-powered chatbots, smart search, credit scoring, anti-fraud analytics and workflow automation.
Commenting on the launch, Vladimir Razuvaev, Chief Executive at Yango Tech, said: “Enterprises today are under pressure to turn AI into practical outcomes. Our AI Agents were built to help organizations deploy autonomous digital employees that integrate securely into existing systems and deliver measurable productivity gains. With around 84% of GCC organisations adopting AI, the opportunity now lies in execution. Our vision is to help healthcare providers, banks, private firms and cities scale AI responsibly while strengthening performance, transparency and service quality.”
The launch reinforces Yango Tech’s alignment with the UAE’s national innovation agenda and broader regional ambitions for AI-led economic growth, smart infrastructure and digital government. By enabling sovereign deployments, local data control and enterprise-grade security, the platform supports the UAE’s vision for future-ready public services and knowledge-driven economies while helping organizations move faster from strategy to implementation.
Tech News
QBURST DEEPENS MIDDLE EAST COMMITMENT, APPOINTS SHIVKUMAR SUBRAMANIAM
TO LEAD FROM DUBAI

QBurst, a design-led digital engineering company powered by High AI-Q™, has appointed Shivkumar Subramaniam as Regional Head, Middle East, based in Dubai, UAE. The appointment underscores QBurst’s strategic commitment to building a locally-rooted presence in the Middle East and strengthening its ability to serve enterprises and governments across the region.
The Middle East represents one of the most significant growth opportunities in the global technology services market. According to Deloitte & MBZUAI, State of AI in the Middle East 2025 report, over 80% of organizations in the region feel intense pressure to adopt AI, yet nearly half lack the talent and technology capabilities to scale it successfully, and a third report no returns from their AI initiatives. Closing that gap between AI adoption and AI value is the opportunity QBurst is positioned to capture.
Shivkumar is a global technology business leader with over three decades of experience building and scaling digital and technology services businesses across the Middle East, Asia Pacific, and India. He has led multi-country P&L portfolios and driven large-scale digital transformation initiatives for enterprises and governments across industries.
“The velocity of digital and AI transformation in the Middle East is remarkable. What’s truly compelling is the complexity and scale of the projects being undertaken—from smart governments to intelligent enterprises. This is where QBurst provides a decisive advantage, bringing a world-class engineering pedigree and practical AI experience. Our main focus is on embedding QBurst into the fabric of the region’s innovation ecosystem, building a team that co-creates solutions and ensures we are the trusted, long-term partner for our clients’ success,” said Shivkumar Subramaniam, Regional Head, Middle East, QBurst.
QBurst CEO Arun ‘Rak’ Ramchandran added, “The Middle East is a strategic market for us with long-term growth potential. Governments across the region – from the UAE’s AI Strategy to Saudi Arabia’s Vision 2030 – are building the foundation for an AI-driven future, and that is creating demand for partners who can genuinely deliver at scale. Building an on-ground team despite the ongoing geopolitical developments is our clearest statement of commitment and conviction in the region. Shivkumar brings proven depth of regional experience and leadership QBurst needs, to accelerate that growth and support our clients in building intelligent, future-ready digital platforms.”
Before joining QBurst, Shivkumar held senior leadership roles at Siemens, Satyam Computer Services, Mindtree, and Larsen & Toubro Infotech, where he helped expand regional technology businesses and led large digital transformation programs for clients across the Middle East and Asia Pacific.
A year since Multiples Alternate Asset Management, India’s leading alternate asset management firm, acquired a controlling stake in QBurst in a ~USD 200 million transaction, the company has moved decisively to scale its international footprint, strengthen its leadership team and bolster its offerings. The Middle East expansion marks one of the most significant steps in that growth journey, with QBurst bringing deep experience in delivering AI-driven solutions across Realty, Hospitality, Retail, Manufacturing, and Healthcare – industries that sit at the heart of the region’s economy.
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