News

Dubai Plans To Deploy Driverless Pods And Green Rail Buses

The high-tech transport systems will facilitate eco-friendly, sustainable travel and reduce carbon emissions by as much as 50%.

Published

6 months ago

January 19, 2024

Nour Nasir

dubai plans to deploy driverless pods and green rail buses

Floww / Urban.MASS

Dubai is expanding its range of sustainable transportation options with the addition of autonomous pods and a solar-powered rail bus system. The forward-thinking move will complement the city’s already ambitious projects, such as flying cars and robotaxis.

The Roads and Transport Authority (RTA) recently signed two Memorandums of Understanding (MoUs) with UK and US-based private companies to bring innovative transportation solutions to Dubai.

urban mass rta dubai partnership 1

The initial MoU was established with Urban.MASS, a UK-based firm, to explore the feasibility of deploying these new transportation systems. According to Abdul Mohsen Kalbat, CEO of RTA, the solar-powered rail buses will run on double tracks, facilitating swift and efficient movement throughout the city. During the initial pilot phase, authorities hope to reduce carbon emissions by an impressive 50%.

urban mass rta dubai partnership 2

The RTA has also partnered with Rail Bus, a US company, to introduce a sustainable transport system where vehicles travel on a bridge equipped with solar panels. RTA CEO Kalbat explained that the system will feature a contemporary design and be more cost-effective than similar transportation alternatives.

Also Read: Dubai Robot Maker To Triple Workforce And Build New Plant

Dubai’s vision for the future of transportation aligns with the city’s commitment to sustainability and eco-friendliness and strengthens the Emitate’s reputation as a pioneer in modern urban mobility.

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

20 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.