News

Dubai Crown Prince Takes Test Ride In Self-Driving Taxi

The Chevrolet Bolt-based Cruise AVs are helping to cement Dubai’s position as a global leader of self-driving transport.

Published

7 months ago

December 15, 2023

Nour Nasir

dubai crown prince takes test ride in self-driving taxi

Dubai Media Office

Crown Prince of Dubai and Chairman of The Executive Council, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, recently took the first demo test ride of a Chevrolet Bolt-based Cruise autonomous vehicle (AV) in Jumeirah.

The Dubai Crown Prince was welcomed by the Commander-in-Chief of the Dubai Police and a team of engineers from the RTA and Cruise. Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of the RTA said, “Autonomous vehicles will play a pivotal role in offering innovative solutions for transportation challenges, curbing urban congestion, and elevating road safety. They support the RTA’s efforts to leverage the integration between mass transport systems and easing the mobility of public transport riders, providing services to many underserved users such as senior residents and People of Determination”.

cruise self-driving taxi dubai test ride

In April 2021, Dubai’s Roads and Transport Authority (RTA) and Cruise entered a partnership to introduce a self-driving ride-hail service. The testing of Cruise AVs marks a crucial step toward enhancing Dubai’s position as a global leader in self-driving transport. The emirate aims to convert 25% of all mobility journeys to self-driving modes by 2030.

Also Read: Dubai Survey Drones Explore Minerals In Central Asia

In April this year, digital mapping for self-driving Cruise vehicles took place in Jumeirah 1 using the company’s HD mapping technology. Cruise initiated limited vehicle testing in October, deploying five autonomous taxis overseen by safety drivers. The Dubai Roads and Transport Authority plans to soon introduce a public registration process, enabling selected residents to use the Cruise ride-hailing app.

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

18 hours 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.