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Dubai Launches AI System To Reduce Traffic Congestion

The platform will also predict when roads and bridges need to be maintained and can be used for crowd management, administration, and smart services.

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1 year ago

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dubai launches ai system to reduce traffic congestion

Dubai’s Roads and Transport Authority (RTA) has announced the launch of an AI and data science-based platform that will improve various aspects of the country’s transportation network, from road maintenance to public transit planning.

The new platform, developed in tandem with top global firms, will use machine learning to examine traffic data, spot trends, and make predictions to aid in the design of more effective road networks and alleviate traffic congestion.

Also Read: Adobe Firefly AI Image Generator Comes To Photoshop

In addition to reducing traffic congestion, the AI platform will also enable preventative maintenance for roads and bridges, plus crowd management and over 100 further use cases as part of RTA’s AI project roadmap. The system will also allow the Roads and Transport Authority to integrate AI into websites and digital apps.

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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.

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1 day ago

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July 25, 2024

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mamo completes $3.4 million funding round to enhance fintech services
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.

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