News

Aramex Completes Testing Dubai Drone & Bot Delivery Service

The program is part of the company’s future logistics service, which aims to enhance the efficiency of last-mile deliveries.

Published

1 year ago

February 17, 2023

Nour Nasir

Aramex

Aramex, the Middle East’s largest courier company, has announced the successful completion of tests into a robot and drone delivery service in Dubai. The 16,000-employee company is currently researching emerging delivery technologies in a bid to boost sustainability and reduce its overall carbon footprint.

The initiative is part of the logistics company’s “future delivery program,” which aims to improve last-mile shipping by employing smart solutions for “quicker, sustainable and cost-effective deliveries”.

Initial tests took place at Rochester Institute of Technology in New York in partnership with Barq EV, a commercial drone delivery company based in the Emirates, and Kiwibot, a Colombia-based business specializing in delivery robotics.

“[The project] enables Aramex to further contribute to UAE’s sustainability ambitions as we embark on our mission to transition our fleet to emission-free vehicles and achieve our climate pledge to reach carbon neutrality by 2030,” says Alaa Saoudi, Aramex Chief Operating Officer.

Also Read: A First Glimpse Of Dubai’s Air Taxis Flying Past Local Landmarks

Aramex has already revealed plans to scale delivery services further to reach more customers across the MENA region, though there’s no firm timeline at the moment.

aramex delivery bots dubai

The drones and delivery robots used in Dubai will be equipped with multidirectional sensors. At the same time, fleet management software will help to synchronize and plan order placements, dispatch management, flight and road routing, and more.

According to data from research company Markets and Markets, the drone delivery market is estimated to be worth $228 million — a figure that will climb to $5.6 billion by 2030. e-Commerce giant Amazon has already started delivering some California and Texas packages by drone, and Walmart, the world’s biggest retailer, already offers autonomous delivery in some areas.

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

1 day 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.