Knot Technologies Closes $1 Million Pre-Seed Round Led by A15

Knot Technologies announced the closing of a $1 million pre-seed funding round led by A15 to expand its AI-powered ticketing and access control infrastructure.

The company aims to transform traditional identity verification and distribution mechanisms, ensuring revenue reaches its rightful owners in the stadium, museum, sports, entertainment, and other event management sectors.

The Ticketing Industry

For decades, the ticketing industry has relied on outdated systems, leaving organizers unable to accurately assess demand, vulnerable to fraud, and resulting in billions of dollars being lost to the black market. Knot Technologies believes this problem is not inevitable, but rather a failure to leverage data that can be overcome with AI.

Previous Experience

Drawing on their previous experience at global companies such as MENA, Goldman Sachs, and Mubadala, the company's founders based their findings on months of systematic research with rights holders and event organizers in Europe and the Middle East.

The result was consistent: existing systems lack transparency, the black market siphons off profits that organizers cannot track, and the public is forced to deal with unreliable sales channels.

Artificial Intelligence

Knot's solution relies on artificial intelligence technologies that verify identity, manage distribution processes, and monitor demand in real time.

The founders assert that this technology enables event owners to prevent unauthorized ticket trading, stem the bleeding of profits, and build a more transparent and direct relationship between organizers and attendees.

Pilot Phase

Following its pilot phase, Knot has already successfully contracted with more than 50 corporate and institutional clients, and is now officially launching in the market, emerging from stealth mode.

Economic Value

In this context, Ahmed Abdullah, co-founder and CEO of the company, stated "In the ticketing sector, economic value is lost through informal channels due to a lack of modern tools to prevent it. Regulators lose control, and the public pays the price. We launched Knot to generate real economic returns and rebuild trust between companies and customers".

Technical Challenge

For his part, Hussein Al-Bandak, co-founder and Chief Technology Officer, commented: "The technical challenge here is significant. Fraud methods are evolving daily; therefore, outperforming them requires building resilient and durable systems. This technology has the potential to create value beyond simply booking tickets."

Real Gap

A15, which led the round, believes that Knot fills a real gap in a sector dominated by traditional companies established before the mobile and AI era.

Karim Bishara, co-founder of A15, stated: "We invested in Knot because the team is working to solve a complex global problem with an innovative and entirely new solution. We believe that through technology, they are able to redefine the concept of trust in the world of ticketing, and we believe they are ideally positioned to lead this transformation."

Product Development

Knot Technologies intends to use the new funding to accelerate product development, expand internationally, and enhance technological integration with its companies in the events ecosystem. The company aims to be the essential infrastructure for the next generation of events, enabling organizers and audiences to have a safer, seamless, and data-driven experience.

Source: Press Release