News

Retail Enablement Company Zid Raises $50 Million

Saudi-based retail enablement company, Zid, has successfully raised $50 million in a funding drive led by IMPACT46.

Published

2 years ago

October 18, 2022

retail enablement company zid raises $50 million

Zid, the Saudi Arabian retail enablement company, has seen investment from the likes of Aramco venture capital arm (Waed Ventures) and Endeavor Catalyst in a recent round of fundraising, led by IMPACT46, paving the way for future expansion into new markets and helping to further modernize the retail sector.

The recent funding comes after a string of successes for Zid, after the company doubled its revenues from both subscriptions and transactions, as well as seeing a 50% increase in orders, with 7 million users now having made transactions through the platform.

Zid was created to enable merchants to grow their online selling channels. It is now taking on a broader mission to modernize the entire retail sector, improving efficiencies and helping business owners increase their profits.

The company has rolled out solutions enabling retailers to improve both shipping (ZidShip) and payments (ZidPay) and plans to offer financial and cross-border shipping products in the near future.

Also Read: Aramex Has Successfully Tested Drone Deliveries In Oman

“We appreciate the continuous belief and trust that our investors have put into the company, the leadership, and the team. We are focused on being the regional optimum solution for each economy we operate in, having proved it in Saudi Arabia,” says Sultan AlAsmi, Co-founder and CEO of Zid.

Like international giants such as Shopify, Zid is building a community that enables merchants to master online selling with a full-fledged eCommerce ecosystem equipped with sophisticated features. Unlike larger corporations, however, Zid is focused on fostering deep connections with merchants and strengthening the community as a whole. After completing the recent round of funding with help from asset management and advisory organization IMPACT46, the future looks bright for this progressive retail enablement company.

News

HiFuture Wraps Up Successful GITEX GLOBAL 2024 Appearance

The electronics company wowed audiences at the world’s largest tech event with a range of wearable and smart audio devices.

Published

1 day ago

October 21, 2024

Nour Nasir

hifuture wraps up successful gitex global 2024 appearance

This year’s GITEX GLOBAL 2024 in Dubai saw a huge number of startups, electronics firms, and innovators from around the globe gather for the tech sector’s largest event of its kind. One company making waves at this year’s expo was Chinese tech group HiFuture, which showcased a range of products with a focus on wearable technology and smart audio.

At the HiFuture booth, the company captivated attendees with cutting-edge smartwatches like the ACTIVE and AURORA, along with a range of powerful wireless speakers, earbuds, and even smart rings. Visitors were eager to check out the sleek new designs on offer and even had the chance to test out some of the products themselves.

hifuture gitex global 2024 dubai

Among the highlights were smartwatches combining dual-core processors with customizable options. The devices blended style and technology, offering health monitoring capabilities, personalized watch faces, and advanced AI-driven functionalities, giving attendees a taste of the future of wearable technology.

On the audio front, HiFuture’s wireless speakers left a lasting impression, offering rich, immersive sound in compact, portable designs. These speakers cater to both intimate gatherings and larger celebrations, offering versatility for users. Meanwhile, the company also showed off its Syntra AI technology, which it claims “revolutionizes health and fitness tracking by combining advanced optical sensors with intelligent algorithms for precise, real-time insights”.

Also Read: How (And Why) To Start A Tech Business In Dubai

The presence of HiFuture’s leadership team at GITEX 2024 underscored the importance of this event for the company, with CEO Levin Liu leading a team of executives, all keen to engage with attendees and offer insights into HiFuture’s vision, product development process, and future direction.

Overall, it seems that GITEX GLOBAL 2024 has been a rewarding experience for HiFuture. The enthusiasm and curiosity of attendees shown to the company’s diverse range of products was obvious, with the HiFuture team leaving on a high note and clearly excited and motivated by the event.