Connect with us

News

Dubai Robot Maker To Triple Workforce And Build New Plant

Micropolis is preparing for a $37 million New York Stock Exchange listing that will help the company deliver 350+ robots a year.

Published

on

dubai robot maker to triple workforce and build new plant
Micropolis

Micropolis, a Dubai-based manufacturer specializing in autonomous mobile robots, plans to construct a new production plant and triple its workforce using cash from an upcoming New York Stock Exchange listing.

Once operational in Dubai Production City, the Micropolis factory plans to produce one robot a day to meet a growing customer demand.

micropolis autonomous robots m1 and m2

Micropolis currently produces two autonomous robots: a golf cart-sized machine known as the M1 and a smaller M2 model which both use the same platform that combines autonomy and advanced AI features.

In 2018, Dubai’s police department became interested in the technology being developed by Micropolis and commissioned an autonomous mobile robot (AMR) featuring AI to help survey areas and improve crime prevention.

micropolis founder and ceo fareed aljawhari

“We have software developed in-house called Microspot, equipped with five AI engines – facial recognition, behavior analysis, ANPR [automatic number-plate recognition], criminal logic, and suspect matrix. It makes the robot drive like a patrol car and think like a police officer. It reports suspicious activity, and Dubai Police can scan and keep an eye on communities 24 hours a day,” explained Fareed Aljawhari, Micropolis founder and CEO.

A smaller version of the robot will be trialed in April 2024 before being introduced to more areas later in the year.

Also Read: meta[bolic] And ŌURA Partner To Manage Metabolic Disease

Micropolis robots have also shown potential in the oil and gas industries for pipe surveillance and can also be used to collect and sort garbage. Meanwhile, Neom, Saudi Arabia’s futuristic mega city, is interested in using similar security robots to one developed for Dubai Police.

Since 2018, Micropolis has raised over $8 million in funds from overseas investors and is expected to raise another $37 million from an imminent New York Stock Exchange listing.

Advertisement

📢 Get Exclusive Monthly Articles, Updates & Tech Tips Right In Your Inbox!

JOIN 23K+ SUBSCRIBERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEOPAY Wants To Follow Merchants Across Channels And Borders

A controlling 65% stake in noon payments would give NEOPAY access to marketplace sellers, online merchants and the payment flows they generate.

Published

on

neopay wants to follow merchants across channels and borders

It’s been a long time since checkouts were single defined places. A merchant might take payments at a physical register, on its own website and through an online marketplace, sometimes in more than one country. NEOPAY wants to follow those transactions wherever they happen.

The UAE payments company has entered into an agreement to acquire a 65% controlling stake in noon payments. NEOPAY already runs the acquiring infrastructure that lets merchants accept card payments, along with omnichannel acceptance and a merchant services platform. This new deal would add noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. That would considerably expand both NEOPAY’s digital commerce capabilities and its regional reach.

For merchants, the attraction is a single provider for online and in-store payments, plus faster settlements, data and analytics, and value-added financial services.

“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. His counterpart at NEOPAY, Vibhor Mundhada, added: “We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region”. The acquisition, Mundhada added, would “expand our footprint into Saudi Arabia and Egypt” while reinforcing NEOPAY’s position at home.

Also Read: In Kuwait, Your Surgeon Might Be Operating From Another Country

NEOPAY is also keen to point out potential payment volume increases. The company says noon payments’ integrations with marketplace sellers and online merchants create high transaction density in some of the region’s fastest-growing digital commerce segments. It also believes control of the business would give it access to those merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.

The combined roadmap targets faster merchant onboarding, better payment performance, tighter fraud controls and embedded financial services. The deal could also strengthen cross-border payments and settlement along key regional commerce corridors.

Continue Reading

#Trending