News

Samsung Galaxy Ring May Arrive In July With Eight Size Options

The wearable is currently in the prototype stage, with mass production slated to commence in the second quarter of 2024.

Published

5 months ago

February 22, 2024

Nour Nasir

samsung galaxy ring may arrive in july with eight size options

The Samsung Galaxy Ring made its debut at the January 2024 Galaxy Unpacked event. While specifics were withheld during the big reveal, recent industry reports indicate the Korean tech giant plans to unveil the eagerly anticipated wearable by late July.

Available in eight different sizes, the Galaxy Ring aims to ensure a comfortable fit for users. Currently, in the prototype stage, mass production is slated to commence in the second quarter of 2024.

Samsung is banking on the ring’s user-friendly design and durability to make waves in the healthcare wearables sector. Meanwhile, competition from Apple may be coming soon in the form of the Cupertino firm’s own smart ring for biometric health monitoring.

Also Read: Saudi Arabia Launches SpaceGuardian, An AI Satellite Imagery Project

Smart rings are receiving plenty of interest of late, offering versatile features for health and fitness monitoring in a small, discreet package. As the trend towards personal well-being grows, these devices provide a simple way to monitor vital health metrics like heart rate, sleep patterns, and activity levels.

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.