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UAE’s Silkhaus Secures Pre-Series A Funding For Expansion
The cash injection includes a multi-million-dollar credit line supporting the PropTech startup’s plans for growth.
Silkhaus, a Dubai PropTech startup dedicated to transforming the short-term rental landscape in the Middle East and Asia, has recently announced a substantial pre-series A financing round. The funding comes via San Francisco-based Partners for Growth (PFG). The strategic partnership also grants Silkhaus access to a substantial credit line, which will facilitate its ambitious expansion plans.
Silkhaus harnesses cutting-edge technology to provide property owners with the essential infrastructure tools to manage and monetize their real estate assets. The startup oversees every aspect of the rental process, from handling bookings to property distribution and operations, ensuring an exceptional guest experience.
On average, property owners using Silkhaus platforms report earning between 20% to 40% more income compared to traditional rental models.
The significant cash injection means that Silkhaus is now poised to disrupt the global short-term rental sector, which boasts a valuation of over $100 billion.
Aahan Bhojani, the Founder and CEO of Silkhaus, expressed his enthusiasm for the partnership with PFG, saying, “Since our launch, Silkhaus has experienced incredible demand, growing by 120% over the past 12 months. We are thrilled to partner with the PFG team as we begin scaling Silkhaus across the GCC with a diversified capital stack and investor base”.
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Meanwhile, Armineh Baghoomian, Managing Director and Head of EMEA at Partners for Growth, praised Silkhaus for its innovative approach, noting, “Through the use of technology, Silkhaus is reinventing how landlords and institutional investors are able to monetize their asset base. Silkhaus’ strong fundamentals have put them on the path to success and we are excited to be a part of their growth story”.
Established in 2021, Silkhaus has already attracted guests from over 120 countries to its properties. In 2022, the company secured $7.75 million in funding from a consortium of global investors, marking one of the most significant seed funding rounds in the history of the GCC region.
News
Yango Enhances Yasmina AI For Improved Conversations
The tech company has upgraded its AI assistant to deliver enhanced creativity, deeper conversations, and advanced bilingual translation.
Global technology company Yango Group has announced a significant upgrade to the large language model (LLM) powering its AI assistant, Yasmina. This enhancement allows Yasmina to deliver more accurate, nuanced, and context-aware responses in Arabic and English, improving interactions and user experience across the Middle East region.
The upgrade is part of a phased rollout of YangoAI, the company’s suite of advanced AI technologies specifically adapted to regional needs. As a result, Yasmina now offers 38% more accurate and timely responses in Arabic, made possible by an enhanced ability to analyze web documents. Additionally, unnecessary answer refusals have been reduced by almost 50%, ensuring smoother and more engaging conversational experiences.
One of the most notable new capabilities of Yasmina is its expanded bilingual translation skill. The improved assistant empowers bilingual users, educators, language learners, and content creators to seamlessly translate conversations between Arabic and English, facilitating better communication and understanding.
Beyond translation, Yasmina can now provide highly contextual recommendations for everyday activities and lifestyle choices. Users seeking personalized suggestions — for instance, how to spend a day in Dubai exploring both modern and traditional attractions — will experience enhanced clarity and precision from the assistant.
The assistant’s upgraded functionality also aids users with tasks such as real-time currency conversion, homework support that encourages independent thinking, creative brainstorming, poetry and storytelling, and even providing riddles suitable for children.
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“With more precise and culturally aware responses, along with additional skills, Yasmina’s latest upgrade positions it as a trusted everyday companion,” said Rami Abu Arja, Senior Innovation Marketing Manager at Yasmina, Yango Middle East. “From creative storytelling to translation, we are enriching lives with human-centered AI and making innovation more accessible to all. As the region embraces digital transformation, we continue to enhance our AI assistant, aiming to make it even more helpful, versatile, and relevant”.
YangoAI’s continuous training on region-specific data ensures that Yasmina and other Yango services authentically reflect local culture and user expectations across the Middle East.
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