From Two Computers to $700 Million: The Rise of InstaDeep in the World of Artificial Intelligence

Tunisian AI Start-Up InstaDeep Bought by BioNTech for $700 Million

In 2014, Karim Beguir launched the artificial intelligence start-up InstaDeep in Tunisia with just two computers and $2,000. Fast forward to 2023, and the company was acquired by German laboratory BioNTech for a whopping $700 million, showcasing the incredible growth and success of the company.

The French-Tunisian CEO, who co-founded InstaDeep with Tunisian IT enthusiast Zohra Slim, expressed his pride in the company’s journey, stating that it gives young Africans hope of being part of tomorrow’s innovation and technology. InstaDeep specializes in decision-making AI that helps businesses optimize cost and efficiency, making a name for itself during the Covid-19 pandemic by collaborating with BioNTech to identify dangerous variants early on.

InstaDeep’s impact goes beyond its financial success, as it has put Tunisia and Africa on the map in the AI industry. With offices in Tunis, Lagos, Cape Town, and Kigali, along with international locations, the company has grown to 350 employees and is involved in groundbreaking projects such as personalized cancer vaccines and automation in transportation and airport operations.

Beguir’s vision for the future of AI in Africa is ambitious, aiming for 10 InstaDeeps to emerge in the next decade. He emphasizes the importance of African involvement in AI development to avoid biases and colonization by AI, highlighting the need for greater innovation and collaboration across the continent.

InstaDeep’s story is a testament to the potential of African tech start-ups to compete on a global scale and drive innovation in the AI industry. With their success, they are paving the way for future generations of African entrepreneurs to make their mark in the world of technology.