News

Noon & ADIO To Build Huge Fulfillment Center In Abu Dhabi

The new facility at Khalifa Economic Zones, Abu Dhabi, will be the largest in the region when it opens in 2024.

Published

2 years ago

November 11, 2022

Nour Nasir

Noon

The COVID-19 pandemic massively accelerated the growth of online shopping in the UAE, with the market expected to be worth $9.2 billion by 2026. As eCommerce sales look set to double in volume, the Abu Dhabi Investment Office (ADIO) and Dubai-based online marketplace Noon are teaming up to build the UAE’s biggest fulfillment center.

The 252,000 square meter mega facility will be sited in Abu Dhabi’s Khalifa Economic Zones, and ADIO is offering Noon monetary and non-monetary incentives to open the massive new warehouse.

“Noon’s partnerships with ADIO and KEZAD Group are significant in scale and impact, creating thousands of jobs and new opportunities for the private sector to plug into an e-commerce platform and the emirate’s innovation ecosystem. Leveraging Noon’s cutting-edge logistics, innovation, and technology expertise, the mega fulfillment center will reinforce Abu Dhabi’s emerging strength in e-commerce and logistics while boosting adjacent industries like transportation and warehousing,” says Abdulla Abdul Aziz Al Shamsi, acting director general at ADIO.

According to the latest press announcement, the new fulfillment center will allow rapid product delivery across the UAE marketplace, using the latest robotic and AI-based automation techniques for sorting, transfer, and storage. The high-tech facility will still need plenty of human workers, with more than 6,000 new staff positions expected to be created, including entry-level packing jobs up to managerial executives.

Also Read: Aramex Has Successfully Tested Drone Deliveries In Oman

“As a local technology company, it is our duty to innovate, invent, and provide the optimal infrastructure for a digital-first future. The new hub in the UAE will accelerate not only Noon’s growth but also eCommerce in our region. We are proud to collaborate with UAE industry leaders such as ADIO and KEZAD to provide our people and nation with the world-class tools necessary for success,” says Mohamed Alabbar, Founder of Noon.

With Noon’s expanded operations in Abu Dhabi, the emirate’s eCommerce sector is receiving a significant infrastructure boost. Business owners, startups, and SMEs will all be able to take advantage of the Noon platform, using its extensive distribution networks to reach new clients and provide an enhanced service for existing users.

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

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”.

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.