News

Revibe Has Raised $2.3 Million For Planned MENA Expansion

The Dubai-based online marketplace for refurbished electronics plans to expand across the region while contributing to the circular economy.

Published

10 months ago

July 10, 2023

Nour Nasir

Revibe

Dubai-based startup Revibe has raised $2.3 million in a seed funding round that will allow it to expand its product portfolio across the MENA region, while enhancing the refurbished electronics platform’s contribution to the circular economy.

The investment was led by Egypt’s Flat6Labs and French-based venture capital fund Resonance, plus several other angel investors. Revibe, which primarily sells refurbished smartphones, laptops, and tablets, will now be able to scale its supply chain and diversify its portfolio to include other categories of electronics later this year.

The company was able to grow 500% within seven months across the Gulf countries, with a particular focus on the UAE and Saudi Arabia.

“Our success has come from always meeting our pledge to customers. But we are expanding all the time, and our goal is to gradually introduce all categories of electronics,” explained Hamza Iraqui, co-founder of Revibe.

Revibe’s strategy aligns with the concept of the circular economy — an economic system that focuses on reducing the use of new natural resources and minimizing waste.

Also Read: Dubai-Based Startup Alfii Raises $2.5 Million In Seed Funding

“Refurbished electronics represents a massive opportunity, especially in this time of economic challenges and growing climate awareness, where consumers are more mindful of their carbon impact while facing decreased purchasing power,” noted Maxime Le Dantec, partner and co-founder at Resonance.

Revibe was founded in 2022 and uses a business-to-consumer selling model that offers refurbished electronics at 30-70% less than brand-new items. The company’s team of engineers makes a 50-point check on all products listed on the marketplace and uses artificial intelligence to monitor quality and meet its strict selling standards.

News

Samsung Galaxy Ring Wearable Will Launch In Eight Sizes

A recent Korean report reveals the model numbers of the new health tracking device, as well as details of its key features.

Published

3 days ago

April 25, 2024

Nour Nasir

samsung galaxy ring wearable will launch in eight sizes

The global launch of the Samsung Galaxy Ring is hotly anticipated, with details about the next-gen wearable gradually emerging since the company’s teaser announcement back in January. Now, a report has also unveiled the model numbers for the device, suggesting it will be available in eight different sizes.

While Samsung has yet to divulge detailed specs and features of the Galaxy Ring, it’s likely to feature an array of health and sleep monitoring functionalities, while boasting a battery life of up to nine days on a single charge.

As per a Galaxy Club report, there are currently eight confirmed variants of the Galaxy Ring: SM-Q500, SM-Q501, SM-Q502, SM-Q505, SM-Q506, SM-Q507, SM-Q508, and SM-Q509.

However, the mystery shrouding two absent model numbers persists, leaving speculation as to whether they signify additional sizes or if Samsung plans to unveil a later ninth variant of the ring, as previously hinted. There’s conjecture that these models may correspond to US ring sizes 5 and above, commencing with the SMQ500, with subsequent numbers potentially indicating larger ring sizes, possibly reaching up to size 13, aligning with model number SM-Q509.

Also Read: Adobe Reveals New AI Tools That Will Wow Photoshop Novices

Recent Korean reports have shed light on how Samsung’s Mobile eXperience division (MX) collaborated with the Home Appliance department to integrate Samsung Food with the Galaxy Ring: Tailored for daily activity tracking, the Galaxy Ring, when paired with Samsung Food and an intelligent Samsung refrigerator featuring AI vision, delivers personalized dietary guidance based on calorie intake and BMI.

Samsung is banking on the user-friendly interface and high durability of the ring to redefine the healthcare wearables landscape. Meanwhile, Apple is also making strides in the development of a smart ring, aimed at monitoring users’ health biometrics discreetly when worn on the finger. According to the Electronic Times report, Apple has been closely monitoring market interest in this more inconspicuous alternative to a traditional watch.