News

The GITEX Global Tech Fair Has Opened Its Doors In Dubai

Over 1,000 AI-related companies are participating, according to event organizers.

Published

9 months ago

October 16, 2023

the gitex global tech fair has opened its doors in dubai

Dubai is hosting the 43rd edition of GITEX Global, one of the world’s largest tech shows with 2.7 million square feet of exhibition space, and a place where the best and brightest minds come together to shape the future of technology.

Around 6,000 exhibitors will be showing off their products at the five-day conference at the Dubai World Trade Centre, with off-shoot events at Dubai Harbour and the Museum of the Future. Among those participating are over 1,000 AI-related companies and global players, including Microsoft, Huawei, and Salesforce.

Industry leaders are joined by local UAE AI innovators G42, along with the Advanced Technology Research Council and Juniper Networks, who will announce locally hosted cloud and AI-driven networking solutions.

The Dubai Harbour section of the event will host Expand North Star, a gathering of over 1,800 next-gen startups from around the world. The themes include Fintech Surge, a Future Blockchain Summit, and Marketing Mania.

UAE Vice-President and ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, a regular of the event, was also seen checking out the latest innovations.

“Gitex is similar to Dubai in how it grows rapidly. It is similar to Dubai in embracing the best minds from 180 countries. It is similar to Dubai in its passion for everything new that contributes to changing our future for the better,” Sheikh Mohammed posted on X, formally known as Twitter.

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So far, the highlight of GITEX Global has been the first live demonstration of ARTEMIS, the world’s fastest-walking humanoid robot. The machine was developed by UCLA researchers and stands at 142 cm tall, weighing 38 kilograms. ARTEMIS, which stands for Advanced Robotic Technology for Enhanced Mobility and Improved Stability, can walk on rough and unstable surfaces and even play football!

Meanwhile, on Sunday, Expand North Star hosted a panel discussion about using AI and machine learning to “create products that dent the universe”. The panel featured spokespersons from global names such as Bolt, Reddit, and Booking.com, who shared best practices and tips.

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

22 hours 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.