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G42 Teams With Microsoft To Boost UAE Cloud Infrastructure

The collaboration will also focus on AI solutions for the health, life science, energy, and sustainability sectors.

Published

11 months ago

September 6, 2023

Nour Nasir

Microsoft

Abu Dhabi-based AI and cloud computing company G42 and US tech powerhouse Microsoft have announced the next phase of their strategic partnership to overhaul and expand cloud and technology infrastructure across the United Arab Emirates.

G42 will deliver advanced AI solutions, while Microsoft will help to expand existing data center infrastructure and Azure cloud services in the Emirates, according to an announcement made on Monday.

“This strategic collaboration with Microsoft is not just about technology […] it’s about creating a holistic ecosystem for societal resilience and growth,” explained Peng Xiao, group chief executive of G42.

g42 and microsoft partnership uae digital transformation

“By combining our respective expertise and shared forward-thinking approach, we aim to not only transform industries but also create positive economic opportunities and lasting impacts on the well-being of individuals, communities, and society as a whole,” Mr Xiao continued.

The two companies will also focus on bringing AI solutions to various sectors, including health, life sciences, energy, sustainability, and other projects of national significance, such as the Cop28 climate summit to be held in Dubai later this year.

According to a study released last October, Microsoft expects its portfolio of cloud services to add over $39 billion to the UAE economy over the next four years, along with the creation of 100,000 jobs.

Also Read: Saudi Arabia’s Gaming Sector Is Quickly Gathering Momentum

The UAE’s digital economy is expected to grow from $38 to $140 billion by 2031. Meanwhile, in July, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, announced a new cloud technology project in a bid to boost the Emirate’s tech infrastructure and accelerate digital transformation.

The UAE also recently approved the formation of a Higher Committee for Government Digital Transformation as the country races to develop a strong and tech-first digital economy.

Related Topics:Cloud Computing G42 Microsoft United Arab Emirates

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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

2 days 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.