News

Du Users Can Expect Faster Internet Speeds As New Tech Arrives

Enhanced gaming and virtual experiences will become the norm as the telecom firm rolls out multi-carrier aggregation technology.

Published

12 months ago

August 14, 2023

Nour Nasir

du users can expect faster internet speeds as new tech arrives

Internet speeds will soon be up to three times faster for du users in the United Arab Emirates as the carrier rolls out multi-carrier aggregation technology. The move will allow seamless artificial intelligence (AI) and 8K video streaming, plus enhanced experiences for metaverse and UHD cloud gaming users.

“We anticipate that in the near future, average bandwidth demands of users will increase multi-folds. Multi-carrier aggregation is a proven way to enhance the peak and average throughputs of wireless networks, and thus we embarked on this journey,” explained Saleem Al Blooshi, chief technology officer of du.

Along with the latest improvements, du will soon offer 3CC-enabled advanced 5G home wireless for even faster speeds.

Also Read: The Top 10 Worst Cyberattacks In The Middle East Revealed

The latest round of upgrades by the telecom carrier is sure to help the UAE remain at the top of internet speed rankings. The country currently sits at number two globally and number one amongst Arab countries, with average download speeds of 239.2 Mbps. Singapore narrowly beats the UAE, topping the list with average speeds of 247.29 Mbps.

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.