News

e& To Become A Major Stakeholder In The Careem Super App

e& will invest $400 million into the Careem Super App, in line with plans to transform the brand into a global technology and investments group.

Published

2 years ago

April 10, 2023

Nour Nasir

Careem

e& has announced a new $400 million deal with Uber, and its local subsidiary Careem. The technology and investment group will acquire a majority stake in the Careem Super App, though the ride-hailing service will remain in Uber’s ownership and continue to offer its existing food delivery, micro-mobility, and fintech services to customers across the MENA region.

“We are excited to bring e& into the family. Their passion for uplifting the region and the synergies across their portfolio is extremely valuable. With two strong partners in e& and Uber, I have no doubt that we will build the preeminent technology platform of the region,” says Mudassir Sheikha, Careem CEO, and co-founder.

Careem will use the investment to expand core services and the Careem Plus subscription program, with the aim of becoming North Africa and the Middle East’s “everything app”.

Careem expects significant benefits from the e& partnership, including access to a customer base of 163 million subscribers across 16 countries. The investment will also unlock e&’s extensive experience in scaling complex tech ventures into new regions.

Also Read: A Guide To Digital Payment Methods In The Middle East

“The shared vision between e& and Careem is exciting, and we believe that together we’ll be able to enhance our impact across different markets in the region while pushing the boundaries of customer experience,” says e& Group CEO Hatem Dowidar.

Since being acquired by Uber in 2020, Careem has evolved into a multi-service app offering more than 12 individual services. Since the COVID-19 pandemic, UAE food delivery subsidiary Quik has grown 46X, with orders increasing by 86%. Meanwhile, micro-mobility service Careem Bike saw gains of 61%, while the company also brought new third-party services under its umbrella, including rental cars, spas, and laundry services.

Completion of the latest deal with e& will see even more comprehensive services offered, though the investment is still subject to regulatory approval and other administrative procedures.

News

Viasat Satellite Messaging Tech Showcased In Saudi Arabia

The direct-to-device (D2D) demonstration highlighted the technology’s potential to revolutionize remote communication.

Published

2 days ago

November 28, 2024

Nour Nasir

viasat satellite messaging tech showcased in saudi arabia

Satellite communications firm Viasat announced yesterday that it had completed its first demonstration of direct-to-device (D2D) satellite connectivity technology in Saudi Arabia. The live broadcast took place during the “Connecting the World from the Skies” event in Riyadh, organized by Saudi Arabia’s Communications, Space & Technology Commission (CST) alongside the International Telecommunication Union (ITU).

Attendees witnessed successful satellite-based two-way messaging and SOS alerts sent using commercial Android smartphones and a combination of Viasat’s robust L-band satellite network and the Bullitt over-the-top messaging app. Signals were transmitted using the company’s L-band spacecraft positioned over the Indian Ocean, while the infrastructure for 3GPP NTN services was deployed by Viasat’s partner Skylo.

Sandeep Moorthy, Viasat’s Chief Technical Officer, emphasized the significance of the demonstration, explaining, “By expanding our direct-to-device innovation to the Kingdom of Saudi Arabia, we’re showcasing the potential for D2D services in the fast-growing Gulf and Asia-Pacific region. D2D could help reduce barriers to connectivity in regions where terrestrial services are spotty and unavailable to help transform industries and supply chains, enable new opportunities, and to become more efficient, sustainable and safer. We’d like to thank the CST for their support in carrying out this exciting demonstration”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

D2D technology allows devices like smartphones, vehicles, and industrial equipment to connect seamlessly to both satellite and terrestrial networks. Unlike traditional satellite setups, D2D eliminates the need for extra hardware, thanks to emerging global standards that are gaining traction among satellite operators, mobile network providers, and tech manufacturers.

What makes this approach particularly promising is that Viasat uses a licensed, dedicated satellite spectrum to deliver its D2D services. This avoids any interference with existing terrestrial networks, allowing smooth integration with mobile network operators in the future.

The demonstration clearly showed the potential of D2D technology to bridge connectivity gaps in remote regions while opening up opportunities for innovation, improved safety, sustainability, and efficiency.