UAE-based automative startup Seez raises a $6M Series A funding round from VCs and strategic investors
Dubai-based startup Seez has raised $6 million from strategic partners and VCs in a Series A funding round. The 3-year old tech startup facilitates the car shopping journey with its Seez App, which offers a smart search engine for car listings and proprietary, AI-powered pricing and negotiation tools. The new funding will go towards several verticals, among them, an online buying service that will allow users to purchase cars via the app, and Seez Cross-Border Car Shopping, a fully-digital car import/export service allowing people in any country to buy a car from the UAE with a few clicks.
“From the very beginning we have been using technology to change how people shop for cars. During the first three years we focused on building our product and growing our user base. Now we are leveraging this platform and using it as a launchpad for all these exciting new services we want to launch,” says CEO Tarek Kabrit.
The alliances forged between Seez and its strategic partners — regional automotive heavyweights who distribute a total of 9 top global car brands — fuels the startup’s product development while supporting the industry in its digital transformation, which means more disruptive and unique offerings for consumers.
Over the past 3 years, the Seez app has grown to over a million users and expanded across 5 countries. With almost 500k cars listed on its platform it serves as the largest car catalogue in the region. As they add new services, they aim to benefit from the synergies across various countries.
Seez has had strong, symbiotic relationships with the region’s auto industry for almost two years, providing leading OEMs and dealerships with a SaaS product, that uses AI and big data to optimize businesses operations, as well as predictive analytics to plan inventory and pricing.
Other investors in the funding round include German VC Crealize, regional VCs Wamda, B&Y, and Phoenician Funds, as well as several angels. Seez had previously raised $3.2 million over two rounds, bringing its total funding to date to $9.2 million.
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