News

SpaceX To Launch The Arab World’s Most Advanced Satellite In 2023

The launch of the MBZ-SAT is part of the UAE’s broader space ambitions, including plans to have a human colony on Mars by 2117.

Published

3 years ago

October 30, 2021

David Morelo

SpaceX

Mohammed Bin Rashid Space Centre (MBRSC), the government organization working on the UAE space program, has announced that it will use the SpaceX rideshare program to launch the MBZ-SAT satellite into space in 2023.

SpaceX established its rideshare program two years ago as a low-cost alternative to traditional white-glove launch services. Since then, over 200 satellites have been launched thanks to the program, which is aimed at small satellites like the 700 kg MBZ-SAT satellite, whose weight and size make it a great fit for the 24-inch ESPA class port, which has a maximum capacity of 830 kg.

MBRSC

Once successfully deployed, the MBZ-SAT will become the Arab world’s most powerful Earth-imaging satellite, significantly outperforming the KhalifaSat, the first Emirati-built satellite, by offering nearly twice the resolving power and featuring multiple other improvements to take clear images from around 500 km above the surface of the Earth.

Most components for the satellite were developed domestically in partnership with UAE-based companies, including Mubadala-owned Strata, Falcon Group, Edge Group’s EPI, Halcon, and Rockford Xellerix. There’s still quite a bit of work left to do before the MBZ-SAT can take off for space, however, which is why the satellite won’t launch any sooner than in 2023.

Also Read: The First Space Hotel Is Set To Open In 2027

“MBRSC team completed the structure model and initial tests of MBZ-SAT along with the completion of the engineering and Flatsat qualification module,” the organization tweeted. “The team will now begin preparations to manufacture the flight model”.

The launch of the MBZ-SAT is part of UAE’s broader space ambitions, including a plan to have a human colony on Mars by 2117 and participation in NASA’s Artemis program, which aims to return astronauts to the Moon by 2024. To become a major player in the space race, UAE must support local companies and inspire young people to pursue careers in the space industry.

Related Topics:SpaceX United Arab Emirates

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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.