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Tech Firms Form Partnership To Boost UAE’s Space Program

The team of companies aims to enhance the nation’s space tech and exploration potential using remote sensing and Earth Observation (EO) capabilities.

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tech firms form partnership to boost uae's space program
ICEYE

A leading AI-powered geospatial tech company called Bayanat has teamed up with fellow UAE firm and satellite solutions provider Yahsat on a new space program.

The pair will be joined by ICEYE, a well-known Synthetic Aperture Radar (SAR) producer from Finland, to build cutting-edge remote satellite sensing and Earth Observation (EO) technologies.

Synthetic Aperture Radar technology allows active sensing of the Earth’s surface, and produces high-resolution images that aren’t affected by weather conditions or the sun’s output. In addition, unlike regular imaging satellites, SAR-equipped solutions can capture images both night and day. ICEYE’s SAR satellites offer broad coverage and higher-resolution images than most, providing valuable insights for various applications.

Meanwhile, the Bayanat and Yahsat role in the space program will be to develop a constellation of around five SAR low Earth orbit (LEO) satellites. The constellation will enable stable data streams for end-to-end SAR applications and provide a wide range of geospatial insights. Between Yahsat’s advanced satellite infrastructure and Bayanat’s data analytics and AI capabilities, the program represents a significant advancement in the UAE’s journey toward building a comprehensive space ecosystem.

Aside from developing remote sensing capabilities, the program also aims to improve in-country satellite manufacturing expertise and enhance the UAE’s space exploration capabilities.

Also Read: Qatar’s Capital Aims To Become A Regional Technology Hub

Hasan Al Hosani, CEO of Bayanat, said, “The partnership between Bayanat and Iceye, in collaboration with Yahsat, will drive the development of a sovereign EO ecosystem, whilst contributing to skill development, scientific advancements, and sustained economic growth.” Meanwhile, Ali Al Hashemi, Group CEO of Yahsat, stated, “As part of Yahsat’s active role in empowering the space economy sector in line with the UAE’s Space Strategy 2030, we are pleased to collaborate […] on this ambitious program [to] strengthen the UAE’s leadership in the space sector in the MENA region”.

The new program follows hot on the heels of UAE astronaut Sultan Al Neyadi, who became the first Arab to perform a spacewalk from the International Space Station (ISS). The historic event lasted for 7.01 hours in the cold vacuum of space, accomplishing key objectives to maintain cabling and insulation on the station’s starboard truss.

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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.

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mamo completes $3.4 million funding round to enhance fintech services
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.

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