Flyby secures $1M SEED
Flyby, a Dubai-based smart delivery box and mobile digital out-of-home (OOH) advertising company, has emerged out of stealth with a $1M SEED round to launch a fleet of smart delivery boxes.
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UAE-based last-mile startup Flyby has announced the closing of a $1M SEED round led by FHS Capital based in Silicon Valley, and VN2 Capital based in London. Founded in 2022, Flyby provides clients with smart delivery boxes, attached to a mobile advertising board.
Our FY2022 Venture Investment Reports covering the VC ecosystems of the Middle East, Africa, Pakistan, and Turkey are out now. The rounds closed in the $1M-$5M bracket size have been gaining traction across the MENA region as market pressures increase globally. In the UAE, deals closed in this bracket size accounted for over 40% of the total transactions in 2022 after recording a PP increase of 23 the year before. Notable rounds closed at this stage included Enterprise Software startup NOW Money, T&L startup Udrive, and FinTech Klaim securing $5M each.
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With an array of embedded sensors and technologies, Flyby seeks to make the roads safer with its advanced smart delivery box. The box has the ability to independently track rider behavior, addressing the road safety challenges of motorbike delivery riders. Hesham Hannah-Shmouni, the Managing Partner of FHS Capital, stated: “We’re excited about Flyby ushering in an entirely new category of mobile digital OOH advertising. With the potential to disrupt multiple industries, Flyby can be a real game-changer, creating new value across the last-mile delivery ecosystem.”
Designed in Germany, the patented smart delivery box is connected through a cloud-based interface that allows advertisers to book ad space directly through Flyby. Flyby’s smart delivery box contains a series of embedded sensors, with live telemetry data including GPS position, speed, acceleration, and tilt allowing the measuring and monitoring of driver behavior.
The funds will be used to launch a fleet of Flyby smart delivery boxes in Dubai, along with scaling and further development of the technology. Saher Khattab, Flyby’s official representative, concluded: “This investment signals that Flyby could positively disrupt a rapidly expanding sector. It’s a significant milestone on our ambitious journey, a vote of confidence to get our Flyby boxes on the streets of Dubai.”
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