Capstone Technology Group, led by CEO Abdullah Al-Mousa Al-Maksour, has successfully closed its first funding round, raising an estimated Dh20 million to develop the GAYA blockchain project. The aim of this project is to create a blockchain system and integrated network to support entrepreneurial projects in various sectors, including entertainment, gaming, artificial intelligence, and environmental and social responsibility standards. The goal is to provide innovative solutions that support the sustainable digital economy.
Al-Maksour highlighted that the GAYA project represents a strategic step towards fostering an entrepreneurial environment that leverages the latest technologies to empower a new generation of entrepreneurs and open up new opportunities for sustainable growth. The company plans to utilize the new investments to enhance its presence in the UAE and the Arab region, improve its platform, and offer new benefits to customers. Capstone Technology Group aims to own and manage technological assets, develop software focusing on Web 3 and mobile applications, and establish effective partnerships to achieve its goals.
The project also aims to promote the adoption of blockchain technology among entrepreneurs, aligning with the UAE government’s vision to boost the digital economy by supporting innovative entrepreneurial projects and driving growth in this crucial sector. The UAE is rapidly growing in the fields of artificial intelligence and blockchain technology, with expectations that artificial intelligence technologies will contribute around 14% of the GDP by 2030. Additionally, the UAE has introduced a national blockchain strategy for the period from 2021 to 2031, with the goal of converting 50% of government currencies to blockchain technologies.
Overall, Capstone Technology Group’s funding success and focus on the GAYA blockchain project underscore the company’s commitment to driving technological innovation and supporting entrepreneurship in the UAE and beyond. The project’s alignment with national strategies and vision for the digital economy positions Capstone as a key player in advancing blockchain and artificial intelligence technologies in the region. As the company continues to expand its presence and develop new solutions, it is poised to contribute significantly to the growth and sustainability of the digital economy in the UAE and beyond.
