News

Dubai Survey Drones Explore Minerals In Central Asia

The UAVs reduce costs and boost efficiency by replacing helicopters and large teams of researchers and geophysicists.

Published

8 months ago

December 14, 2023

Nour Nasir

dubai survey drones explore minerals in central asia

Microavia

Microavia, a UAE-based company established in Dubai in 2022, delivers drone-based solutions for security, monitoring, and surveying.

Now, the company is helping geologists and researchers explore mineral deposits in Central Asia and Kazakhstan. Microavia’s advanced aerial surveying platform, Fortis, provides detailed information about an area’s geological structure, reducing task times by half and drastically cutting costs.

“We have successfully concluded all preflight tests with Microavia Fortis. A special feature of their geodrone is their ability to stay in the air for up to 60 minutes. The drone can carry up to 12 kg of payload. [and has] shown high efficiency in conducting aeromagnetic surveys due to the stability of the flight direction even in strong winds and long flight time,” explained Kirill Bazhin, CEO of Geodevice Kazakhstan.

Microavia drones hover at low altitudes between 40 and 100 meters, scanning the ground in 400-meter-wide sections. Hundreds of miles of land can be surveyed in days instead of weeks or months, and mineral exploration missions can now be undertaken in previously inaccessible areas.

“Big thanks to Microavia for supplying us with their drones for Terra Exploration. The 45-minute flight time with the magnetometer is quite impressive! Moreover, their team provided us with a beneficial and enjoyable pilot course. I can’t wait to start using these drones in our work,” said Nikita Shaliuto, geophysicist of Terra Exploration.

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According to recent reports, aluminum, copper, gold, and lithium deposits fall short of anticipated demand. Central Asia, and especially Kazakhstan, has a vast unexplored reserve of minerals, and drone-based exploration can help speed up their extraction.

Microavia’s export of advanced UAVs is also bolstering efforts by the UAE to diversify its industrial sector from traditional oil, petroleum, and gas production.

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

19 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”.

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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.