Salica Oryx Fund Leads $2m Pre-Seed in AI Proptech Startup Coraly.ai

Salica Oryx Fund, the Abu Dhabi-based early-stage vehicle managed by Salica Investments, has led a $2 million pre-seed round for Coraly.ai, an AI-powered proptech startup that automates marketing workflows for real-estate agents. The round also drew participation from EQ2 Ventures and a group of angel investors.

Coraly.ai builds tools that help property agents generate listings, marketing content and campaigns using artificial intelligence, targeting efficiency gains in one of the region's most active sectors. The investment fits squarely within the fund's mandate to scale technology ventures at the pre-seed to pre-Series A stage across MENA, with a focus on areas including finance, enterprise software, logistics, healthcare and education.

Salica Oryx Fund is backed by a roster of institutional limited partners including the Jada Fund of Funds, the Saudi Venture Capital Company and Mubadala, giving it a sovereign-anchored base from which to write early cheques into regional founders. The fund has been steadily deploying into technology startups it believes can scale beyond a single market.

The deal is part of a broader wave of AI-first investing across the Gulf, as funds move quickly to back application-layer startups applying generative AI to specific, high-volume industry workflows.