News

Oracle Plans Dubai Expansion And Cloud Infrastructure Upgrade

The company is working to meet surging worldwide demand and is set to expand its presence across the wider region.

Published

6 months ago

January 23, 2024

Nour Nasir

Oracle

Oracle is set to expand its presence in Dubai as part of a broader strategy to bolster its cloud infrastructure in the Middle East in the midst of the region’s ongoing digital transformation.

The forthcoming expansion of Oracle’s Dubai office aims to provide customers with the opportunity to explore the future of their businesses through cutting-edge AI and cloud technologies.

A pivotal aspect of the expansion entails the development of a state-of-the-art customer experience center within Oracle’s Dubai facility. This center will not only serve as a showcase for innovative AI and cloud technologies but also feature futuristic workspaces designed to enhance employee productivity.

Presently, Oracle operates three live cloud regions in the Middle East, distributed across Abu Dhabi, Dubai, and Jeddah. Additionally, they have plans to establish two more in Riyadh and Neom, Saudi Arabia’s emerging high-tech city, to meet escalating demand.

While no specific timeline was provided for the launch of these upcoming cloud regions, it is evident that cloud adoption in the Middle East is thriving. A tech-savvy younger generation and government efforts to shape the digital future of their economies have spurred global cloud providers, including Oracle, Microsoft, Amazon, IBM, and Alibaba Cloud, to invest in the region.

Also Read: Saudi Arabia Plans Huge Adventure Tourism Oil Rig Facility

Although Oracle refrains from disclosing market share figures, recent industry data suggests Oracle has a 2% global market share, ranking eighth. Notably, Amazon Web Services leads with 32%, followed by Microsoft Azure with 22%, and Google Cloud with 11%.

As part of its commitment to fostering AI skills, Oracle has also partnered with the Dubai Business Women Council to launch the sAIdaty initiative, designed to empower women professionals and entrepreneurs. The year-long program aims to equip 500 council members with AI skills, contributing not only to their professional growth but also to the UAE’s digital economy objectives.

Related Topics:Cloud Computing Dubai Oracle

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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”.

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.