Mobility SaaS startup AHOY raises $20M Round
The pioneering mobility tech infrastructure company, AHOY, is enabling a new future of movement and mobility digital networks through ground-breaking technology and a $20M fundraise.
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UAE & Saudi operating Tech startups and mobility solutions provider AHOY announced it has successfully raised $20M in its latest funding round. The round raises their total investment to $27M as the startup plans to raise a bridge funding round in the following months to boost its scale-up globally prior to the Series A round. The announcement was made during its inaugural Keynote event “The Deployment” which took place in February.
AHOY is a unique player in the technology industry and a strong believer that creativity and innovation were always linked to movement. Hence, they have focused on reimagining movement technology and developed a true enterprise-grade tech infrastructure to optimize and automate any movement-related process. This will enable endless startups, corporates, governments, and more to move forward, efficiently and sustainably. During the keynote, AHOY has showcased how movement is the core of various businesses, tapping into major industries, and how technology is playing a key role in reshaping how organizations are currently operating.
The Transport & Logisitcs industry is undergoing a rapid and exciting digital transformation expedited by the need for on-demand delivery brought foreword by the pandemic living conditions. With 3 Mega Deals by Turkey-based delivery network Getir, 1 Mega Deal by Egypt-based logistics startup and micro-crediting service provider Halan, and the highest funding round in Pakistan to date closed by delivery startup Airlift, the Transport & Logistics (T&L) sector across EVMs has captured investor attention in 2021. As recorded in our State of Startup Funding- 2022 Emerging Venture Markets Report, available for download, these major rounds drove the 550% YoY growth in VC funding over 2021, to make T&L the second most-funded industry across EVMs.
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Jamil Shinawi, CEO & Co-Founder said, “The deployment of the AHOY technology across all mobility-related sectors offers endless possibilities”. He added, “this year, AHOY aims to provide 100+ job opportunities for highly skilled software professionals in Dubai and Riyadh. We aim to increase the research and development team activities in UAE & Kingdom of Saudi Arabia and scale our presence into international markets”.
Ahoy hosts regular hackathons for attracting tech talent and allows participants to devise tech solutions that serve a variety of business sectors, he stated. The company has also announced launching its own startup studio (The Orchard) to support and promote a new generation of startups looking to add real value and create change. Adel Samer and Gerard Sansoni, Co-Founders expressed “Our support is dedicated to enabling everyone to challenge current practices”. The Orchard will not only empower startups with cutting-edge tech, but it will also provide investor networking support and strategic legal support – essential to the success of any startup – on a pro bono basis. One of the first harvests in the orchard, is the impactful and innovative startup PILDD, which is set to automate and enhance pharmaceutical adherence and medicare delivery.
Given the lack of infrastructure and the many challenges the MENA region is currently facing, AHOY has announced its global hybrid solution AHOY Movement Studio (AMS), a collection of Software Development tools (APIs, SDKs, and libraries) tailor-made for enterprises. It will allow developers to build the most enhanced movement-related solutions. Driven by its cutting-edge technological solutions, making use of AI, spatial and task awareness capabilities, machine learning, decision-making, and automation technologies AHOY stated it has grown 25x in terms of revenue, number of transactions, and even more in technology deployment and deliverables between 2020 and 2021 exceeding their OKRs and plans. AHOY is currently based out of the UAE and Saudi Arabia with a global offering, and Utilizing its newly acquired funds, is expected to rapidly diversify into select African and Latin American countries in the coming 12-18 months.
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