News

SpaceX Announces That Starlink Now Has Over 1 Million Users

It seems that Elon Musk’s internet service is proving extremely popular.

Published

2 years ago

December 21, 2022

Nour Nasir

Starlink

SpaceX has just revealed via a Tweet that its satellite internet service, Starlink, now has over 1 million active users. Despite the recent controversy surrounding CEO Elon Musk’s recent Twitter antics, it seems that the public still sees enormous value in the entrepreneur’s tech offerings.

Starlink now has more than 1,000,000 active subscribers – thank you to all customers and members of the Starlink team who contributed to this milestone ❤️💫🌎 https://t.co/5suNxFvtEH pic.twitter.com/E1ojYarcEA

— SpaceX (@SpaceX) December 19, 2022

Although the subscriber figures sound impressive for a relatively young company, Starlink still has a few teething problems. According to a September report by speed test gurus Ookla, the satellite internet company’s download speeds have continued to drop since mid-2021, with figures ranging from 9% to 54% being measured at various intervals.

Ookla believes that the dropouts and general sluggishness are probably due to Starlink’s infrastructure straining under the weight of its growing user base, which along with a fair use policy introduced in November 2022, means that the company is almost certainly throttling internet speeds. Starlink’s service went from 400,000 active users in May to the 1 million+ figure we’re hearing about today, so existing users may need to spend more to get speeds back to what they’ve been used to so far.

Also Read: UAE Prepares To Trial First Driverless Truck At Dubai South

Back in August, SpaceX announced that it was entering into a partnership with T-Mobile that would allow the mobile phone giant’s customers to connect directly to Starlink satellites, potentially adding even more users to the platform — though testing will continue well into 2023.

Future plans for SpaceX include the addition of their second-generation satellites, which may ease some of the strain when they launch at the end of the year. However, astronomers will no doubt be less than thrilled at this news, as Musk’s company currently has over 3,000 craft in orbit, a figure which will eventually reach 42,000 once future plans are approved.

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.