From March 23, 2022, on-demand car subscription service Carasti is available in Riyadh, Saudi Arabia. The expansion of the UAE-based company into the Kingdom comes after a successful bridge round that helped Carasti raise $2 million from venture firms Net Ventures and Rua Growth.
The bridge round will soon be followed by Carasti’s Series A funding round, which should help it further drive growth and establish itself as a dominant player in the car rental and leasing market in Saudi Arabia, which is expected to reach $2.5 billion by 2026, according to a report by Mordor Intelligence.
“After a successful 2.5 years of rapid growth in the UAE, we are now making it possible for Saudi drivers to get a car without any of the hassles of ownership; our full-subscription model looks set to become the go-to brand for the Kingdom’s automotive needs starting today and into the future” said Claudio Esposito-Aiardo, CEO of Carasti.
Carasti offers a growing selection of new and nearly-new cars, and its subscription process takes less than three minutes to complete. Customers can choose from all-inclusive subscriptions ranging from 1 to 24 months, with prices starting at just SAR 1,799 ($479 USD) per month. The few required documents can be conveniently uploaded using the Carasti app, available to download on both the App Store and Google Play Store.
To celebrate its recent expansion, Carasti is launching with a Ramadan offer of 50 percent off the first-month subscription for new Saudi subscribers. To take advantage of the offer, simply enter the code “WOW50” when signing up. After completing the quick and easy sign-up process, the selected vehicle can be ready in as little as 4 hours.
All subscriptions include not only the car itself but also all other expenses typically associated with car ownership, such as insurance, warranty, maintenance, and around-the-clock roadside assistance and delivery.
World’s Largest Metaverse Developer Opens Dubai Office
LandVault, the largest metaverse creator, is expanding its presence into the MENA region.
LandVault, the world’s largest metaverse developer, will expand operations to Dubai later this month as part of an ongoing strategy to boost its presence in the MENA region. The company aims to help local businesses gain a foothold in the expanding web 3.0 universe and sees exciting opportunities to bolster its client portfolio.
So far, metaverse developer LandVault has lived up to its name, creating and curating over 100 square feet of virtual space for a diverse range of organizations, including the nearby Yas Marina Circuit, Aldar, Mastercard, Standard Chartered, World of Women, Hershey’s, and many more.
The Dubai government’s Metaverse Strategy is one of the key reasons LandVault has been inspired to move to the region, as leaders plan to transform the Emirate into one of the world’s top 10 metaverse economies by 2030. Eventually, it’s hoped that in excess of 1,000 companies in the blockchain and web 3.0 spaces will be inspired to set up entities in the region, creating around 40,000 new jobs in the process.
“We are excited to open our office in Dubai and to be a part of the vibrant tech community in the UAE. The MENA region is a key market for us, and we believe that our presence in Dubai will allow us to assist the region and explore new opportunities. We are also excited about the potential for the metaverse in the real estate industry in the UAE. We look forward to working with developers and real estate companies to showcase their properties in a new and innovative way,” says Sam Huber, CEO of LandVault.
Alongside developing the metaverse from its new Dubai office, LandVault will also deploy its technology to assist the UAE’s real estate sector. Developers will soon be able to showcase their projects in a way that was never previously possible, reaching a much wider audience with immersive and interactive property tours and even virtual showrooms.