News

Abu Dhabi Airports Exploring Options For Air Taxis

Abu Dhabi Airports has just signed an agreement with French counterpart Groupe ADP in a bid to explore how airport infrastructure could be updated to incorporate air taxis.

Published

2 years ago

November 9, 2022

Nour Nasir

abu dhabi airports exploring options for air taxis

Abu Dhabi Airports has teamed up with France-based Groupe ADP to incorporate air taxis into the airport infrastructure. The two groups have drawn up an advanced air mobility (AAM) plan, focusing on Abu Dhabi’s airspace and the viability of electric vertical take-off and landing (eVTOL) aircraft. If plans are successful, the Emirate could see fleets of highly efficient craft darting around the region, ferrying both people and small cargo loads.

The joint team have agreed to share the responsibilities of planning, development and design and will soon draft a feasibility study after discussions with stakeholders.

abu dhabi airports signs deal wit groupe adp

“The advanced air mobility system integrates flight technologies with transformational aircraft designs which utilize electric power to hover, take off and land vertically, enabling sustainability in air transport for both passengers and cargo,” says Jamal Al Dhaheri, managing director and chief executive of Abu Dhabi Airports.

It’s hoped that eventually, the planned infrastructure and technology will not only drive further improvements to the region’s sustainability credentials, but also improve transport convenience and efficiency through the use of low maintenance high speed air taxis.

Also Read: Saudi Arabia To Build 150,000 EVs Annually By 2026

Groupe ADP and Abu Dhabi Airports aren’t alone in their desire to develop air taxi infrastructure. Many companies worldwide have already begun to explore the regulatory implications of this new type of transport, and major airlines are keen to develop viable battery-powered aircraft designs that can take off and land vertically.

In the future, it looks increasingly likely that our cities will resemble something from a sci-fi movie, with taxis taking off and landing from “vertiports” on building rooftops, helping residents beat traffic queues and get to main transportation hubs on time.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.