Funding Announced As Startups Take Center Stage At Region’s First Ever Tech Mix

MAGNiTT News 2 years ago - Wed, Nov 14, 2018, 10:12 AM

Funding Announced As Startups Take Center Stage At Region’s First Ever Tech Mix
Author: MAGNiTT

By Press Release


Participants in Startup Pitching Contest Already Making Headlines as Volt Lines Announces Funding from Dubai Angel Investors

Dubai, United Arab Emirates, 14 November 2018: Displaying some of the most exciting and original tech, energy and smart transport solutions, ten regional and international startups vied for investment at last week’s Tech Mix hosted at the Dubai Chamber of Commerce.

Participants in the Tech Day Startup Pitching Contest are already making headlines as Volt Lines announces funding for a total of USD1.28m pre-series A. Dubai Angel Investors led the round with USD780k, while the rest of the funds raised came as follow-on from MEVP, Hedef Filo, and Wassim Matar.

Kushal Shah, Head of Digital & Technology at Roland Berger Middle East & Asia and Co-Founder of Dubai Angel Investors, commented on the announcement, “Tech Day was a great platform to showcase startups, and we are indeed excited to be lead investor for Volt Lines as they disrupt mobility in the transportation sector. With the future being increasingly modular, giving customers choice, affordability and relevance, I believe Volt Lines will bring the thought-after "City As A Service" concept closer to our region.”

Volt Lines, a startup based in Turkey, offers an innovative subscription-based transportation service to digitise employee transport. With this funding, Volt Lines will more than double its engineering team, accelerate its growth in Istanbul, and finalize plans for its MENA expansion.

Ali Halabi, founder and CEO of Volt Lines, commented: “I’m very excited to see Dubai Angel Investors joining our journey and solidifying Volt Lines’ connection to Dubai and the region. Having this incredible network on-board inches Volt Lines closer to a strong and meaningful MENA launch as we continue to exponentially grow our Turkish business.”

Other start-ups emerging victorious from the event were Wimo, a last-mile management software that helps companies streamline fleet operations and increase their profitability; Junkbot, a DIY robotic kit that enables young and old to transform household objects and junk into unique, imaginative robots programed for a variety of functions; and Greenrail, an innovative Italian SME that designed and patented an innovative and sustainable railway sleeper made with an outer shell in recycled plastic and rubber obtained from the recovery of ELT (End of Life Tyres).

A collaboration between globally established consulting firm Roland Berger and Bank Intesa Sanpaolo, The Tech Mix event, designed to facilitate and foster Italian-Middle East tech partnerships, attracted more than 250 of the city’s tech leaders and innovators and a large delegation from Italy.

During his opening remarks, Shah unveiled the Roland Berger map of the new world and discussed the exciting city as a service concept, describing it as the movement towards introducing more integrated services for city dwellers, to reduce energy consumption, integral to achieving a sustainable circular economy.

 “The innovation on display, not to mention the insight shared by an unparalleled line up speakers and panelists made this a truly one of a kind event, and a real testament to the vibrancy and vitality of the regional tech ecosystem. We are delighted at the success of the region first ever Tech Day, and look forward to replicating it in the future,” said Samar Imtiaz, Head of Marketing at Roland Berger.

Speaking at the event were some of the region’s brightest minds and stalwarts of industry including Essa Alzaabi – Head of Dubai Sartup Hub Dubai Chamber of Commerce, Rene Seyger – MD Roland Berger ME, Maurizio Montagnese - Chairman Intesa Sanpaolo Innovation Center, Adeeb Warsi - MD Careem Food, Chadi Moujaes - Executive VP DarkMatter, Bibop Gresta - Chairman of Hyperloop and Victor Bishay - Regional Lead MENA - Google Cloud to name a few.

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