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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

7 months ago

January 10, 2024

Nour Nasir

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.

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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.

Related Topics:Dubai Micropolis Robotics

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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.

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”.

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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.