UAE-based AI startup Relik raises seed funding backed by KBW Ventures as it targets the $467 billion global counterfeit market with its AI powered authentication platform.
UAE based AI authentication startup Relik has raised a seed funding round with backing from KBW Ventures, alongside Naatt Holding, Fort Holding and angel investor Ayman Sejiny, as the company accelerates the rollout of its AI powered verification platform across luxury, sports and heritage markets. The value of the round was not disclosed, according to reporting by Wamda.
Founded in 2023 by Walid Tarabih and later joined by John Tsioris, the co-founder of MENA unicorn InstaShop, Relik is building technology designed to authenticate physical assets without relying on external hardware. Its flagship product, Relik Vault, assigns each item a unique digital identity or “digital DNA,” allowing authenticity to be verified using a smartphone rather than NFC chips, QR codes or RFID tags, as detailed by KBW Ventures.
The company is targeting a fast-growing global problem. According to estimates cited by the OECD, counterfeit and pirated goods account for more than $467 billion in global trade annually, representing roughly 2.5% of world trade. The rise of generative AI and advanced replication techniques has further complicated authentication, increasing demand for technology-driven provenance and verification tools across high-value industries.
Relik’s technology is designed to address these challenges by permanently linking each physical object to a secure digital record, enabling real-time verification for collectors, brands, auction houses and cultural institutions. Coverage by Zawya notes that the platform is being positioned for use across sectors including luxury fashion, sports memorabilia, art and heritage assets, where provenance and trust are critical.
KBW Ventures, which led the round, is the venture capital arm of HRH Prince Khaled bin Alwaleed bin Talal Al Saud and focuses on early-stage technology companies with global potential. The firm has previously invested in deep-tech, AI and sustainability-focused startups, with Prince Khaled highlighting the importance of trust infrastructure in an era where digital and physical assets increasingly overlap, according to KBW Ventures’ announcement.
Relik’s funding comes amid continued momentum for AI and deep-tech startups in the MENA region. Data from MAGNiTT shows that startups across the Middle East and North Africa raised more than $10 billion in disclosed funding in 2024, with the UAE ranking among the region’s top markets by deal volume. AI-driven platforms have attracted a growing share of early-stage capital as investors prioritize defensible technology and clear commercial applications.
The inclusion of John Tsioris as co-founder adds operational experience as Relik moves toward broader commercialization. Tsioris previously led InstaShop through regional expansion before its acquisition by Delivery Hero in a deal valued at $360 million, one of the region’s most notable exits, as reported by Reuters.
As counterfeiting continues to cost brands hundreds of billions of dollars annually, Relik is positioning itself at the intersection of AI, security and digital identity. With fresh seed capital and strategic backing, the startup aims to scale its platform from the UAE into global markets where authentication and trust are becoming essential infrastructure rather than optional features.
