BIKAL TECH ANNOUNCES PARTNERSHIP WITH ALOQA VENTURES
The cooperation between both companies will improve AI development in the Uzbek Market and enhance each other’s technology in the AI sphere.
Tashkent, July 7, 2023 - BikalCA, the Central Asian branch of Bikal Technologies UK Ltd, has signed a Memorandum on Cooperation and Partnership (MOCP) with Aloqa Ventures Fund. The fund was established in 2021 by Aloqabank Joint Stock Commercial Bank to invest in innovative and promising start-up projects, with a focus on stimulating companies and partners to create modern technological solutions.
The investment directions for Aloqa Ventures Fund include smart business, e-commerce, cloud tech, AI, and Fintech. With this Memorandum on Cooperation and Partnership (MOCP), BikalCA is pleased to collaborate with Aloqa Ventures Fund to support the development of start-up projects in Uzbekistan.
Jas Dahil, Operations Director at BikalCA, expressed his satisfaction with the opportunity to work with local partners at the IT park to implement the HPC Data Centre. This will allow start-ups and the local ecosystem based in both the IT park and Aloqa Ventures Fund a unique opportunity to trial their ideas on an HPCaaS Data Centre.
“We are very pleased with this opportunity to have a base at the IT park where we can work with our local partners to implement our HPC data centre thus allowing start-ups and the local ecosystems based in both the IT park and Aloqa Ventures a unique opportunity to trial their ideas on an HPCaaS Data Centre, so that their products can be AI and 5G enabled” — Says Jas Dahil.
Davron Parmonov, Project Manager at Aloqa Ventures Fund, stated that investments in the early stages of project development create a flourishing environment for companies within Uzbekistan. He believes that many start-ups will significantly benefit from Bikal’s unique technologies.
“Investments in the early stages of project development allow a flourishing environment for companies within Uzbekistan. We have many start-ups who will greatly benefit from Bikal’s unique technologies” — says Davron Parmonov.
The partnership between BikalCA and Aloqa Ventures Fund is expected to drive innovation and create new opportunities for start-ups in Uzbekistan. Both parties aim to establish partnerships and develop long-term cooperation for their own and joint projects. Aloqa Ventures portfolio companies will partner with Bikal to enhance Al’s capability and reach mutual market reach.
About Bikal
Bikal is a product development company that leverages university research to transfer technology to solve challenge statements in the private and public sectors. Bikal leverages Artificial Intelligence and 5G technologies to develop products that optimize ubiquitous connectivity and high-performance computing.Bikal Press Contact
Sandhu, Raj, press@bikaltech.com +44 7452 889454
