Purity inks resale, joint venture agreement with AI firm

Logo of Purity Tech Co.

Purity Tech Co. signed, on May 13, a reselling, business partnership & corporate venture building agreement with Velents.ai, an artificial intelligence company, according to a filing to Tadawul.

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This agreement enables Purity to offer and resell Velents’ AI products, solutions and technologies in the Kingdom. It provides exclusive access to over 70 government and private entities, with the potential to expand the exclusivity agreement with mutual consent, the statement added.

The partnership also involves joint development of customized AI products for the Saudi market, allowing for the flexibility to deliver and brand these solutions under Purity’s identity, powered by Velents’ cutting-edge technologies.

As part of the agreement, both companies will also collaborate on corporate venture building by establishing a joint studio to co-develop and incubate innovative AI products that serve sectors such as education, healthcare, finance, security, and public service, which all fully aligned with the evolving needs of the Kingdom.

As a result of this partnership, several advanced AI products are now ready and released to be offered to the Saudi market under the ownership of Purity paving the way for enhanced efficiency, innovation, and growth across the region, the statement further noted.

Velents.ai is a pioneering AI company specializing in AI-powered workforce solutions and enterprise digital transformation. Velents.ai proprietary AI technology, they streamline customer engagement and enhance operational efficiency for organizations, Purity stated.

This partnership is a strategic move aligned with Purity’s vision to expand its AI portfolio, accelerate digital transformation, strengthen internal capabilities, and contribute to the Kingdom’s broader goals for technological empowerment, the statement indicated.