News

Plans Underway For Massive Middle East Autonomous Freight Network

DP World and Einride will develop the largest electric, autonomous freight mobility operation in the region at Jebel Ali Port.

Published

2 months ago

May 14, 2024

Nour Nasir

plans underway for massive middle east autonomous freight network

Dubai Media Office

Dubai-based logistics company DP World has joined forces with Einride, a leader in freight mobility, to electrify container movements at Jebel Ali Port. The initiative will enhance efficiency and eco-friendliness at the world’s 10th busiest sea logistics hub. The groundbreaking plans include the largest deployment of electric, autonomous freight mobility across the Middle East, revolutionizing regional freight transportation.

The collaboration will begin in late 2024 and aims to ramp up swiftly to accommodate around 1,600 container movements daily. A fleet of 100 interconnected electric trucks will facilitate the expansion, overseen by Einride Saga, the company’s digital platform engineered to optimize electric and autonomous freight operations. A pilot for the autonomous vehicles is scheduled for rollout in 2025.

dp world and einride partnership

At full operational capacity, the venture will reduce carbon dioxide emissions annually by up to 14,600 tonnes and nitrogen oxides by 158 tonnes.

“DP World is committed to making trade smarter, faster, and more sustainable, and our new partnership with Einride aligns perfectly with our vision,” explained Abdulla Bin Damithan, CEO and Managing Director of DP World GCC. “We have already made significant progress in electrifying and automating our terminals at Jebel Ali Port, and by leveraging Einride’s cutting-edge technology, we can take that to the next level,” he added.

Also Read: Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE

Robert Falck, CEO and Founder of Einride, added: “Our collaboration underscores a shared dedication to sustainability and innovation, merging Einride’s expertise in electrification and autonomous technology with DP World’s global logistics leadership […] This collaboration showcases the effectiveness of combining visionary ideals with decisive action, paving the way for a more resilient future”.

The partnership represents a cornerstone of Einride’s larger strategy with the UAE Government, helping to accelerate the transition to sustainable shipping practices. Einride’s ecosystem, featuring electric and autonomous vehicles, charging infrastructure, and cutting-edge technology, will be deployed extensively across the Falcon Rise grid, heralding a greener, more efficient freight-shipping future.

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

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.