News

Starlink Teams Up With Elcome To Offer Maritime Internet

The new service will give ships and luxury yachts internet access with speeds up to 100 times faster than currently available.

Published

2 years ago

January 9, 2023

Nour Nasir

starlink teams up with elcome to offer maritime internet

Elon Musk’s Starlink satellite internet startup has partnered with Elcome International — a marine electronics company headquartered in Dubai, United Arab Emirates. The pairing aims to launch a new maritime-based internet service with unparalleled transfer speeds.

According to Elcome, the Starlink-backed service will offer internet speeds that are 100 times faster than conventional satellite solutions, helping the luxury yacht sector to provide a better service to clients, as well as boosting download speeds for merchant ships and even oil rigs.

“We are so excited to bring the benefits of Starlink to our customers. It’s not just about fast internet, but the opportunity for us to implement real-time remote monitoring and autonomy solutions for these customers in ways that were not previously possible. Also, consider the benefit to crew members who will now be able to better stay in touch with family and friends while out at sea,” says Jimmy Grewal, Elcome Executive Director.

Also Read: Kuwait Aims For Digital Transformation With Google Partnership

The service uses Starlink’s low-orbit satellites, which currently represent the largest constellation of their type at such an altitude. Elcome will provide their customers with installation, integration, and field support for Starlink connections, with multi-antenna arrays delivering super-fast, low-latency bandwidth.

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

2 days 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.