Interested in more data on startup investments? Access our data on 7,490+ startup funding rounds
UAE-based serial entrepreneur, and most recently founder of Rizek, Abdallah Abu Sheikh has set eyes on the Transport & Logistics (T&L) industry working on developing new hardware and Tech-driven solutions for the last mile delivery sector in the region. This will involve networked vehicles for use by logistics and transport operators that address a growing demand for effective operations, efficiency, rider safety, and comfort.
The company will officially be launched by the end of the year and is already in talks with key stakeholders within the region. Abdallah will be building the venture with current partner and Co-founder of Rizek Ahmed Al Mazroui, former member of the Abu Dhabi Investment Council, and Saudi-based investor Mazen Aljubeir, early investor and long-time board member of Careem.
Reflecting on Abdallah’s entrepreneurial journey through his most recent Venture Rizek, the UAE-based entrepreneur has developed a track record in pioneering Tech-driven innovations. Launched in 2019, as an on-demand freelance hire platform, Rizek raised more than $10M in its funding journey. Keen on choosing strategic partners, Rizek has built a strong backing by investors including of E-Tech Investments, ADQ, and ADIO and key partners the likes of Alibaba Cloud and NMC Healthcare. The success and business acumen of Rizek brings high anticipation to this new venture.
The three entrepreneurs are aiming to make the T&L sector more sustainable with eco-conscious LMD aggregators. The vision is to support providers in achieving economies of scale in terms of operations and performance by introducing Tech-integrated smart solutions. The team is looking to chart a new course for the category with a holistic approach, focusing on both human proficiency and ergonomic functionality.
On a Macro level, the startup will be well-positioned in a growing T&L sector in MENA, with increased interest by investors and continuous innovation. Still ranking 4th amongst the top-funded industries across MENA, the Transport & Logistics sector observed a 122% YoY growth in funding in 2021 with major innovations in environment and optimization by the likes of UAE-based Fenix, Cairo-based Trella, and UAE-based Lyve Global amidst various T&L startups in MENA.
The team has set forth on a mission of tying sustainability with mobility to launch an innovative solution set to disrupt the LastMile delivery scene in the UAE and general MENA region. Stay connected at MAGNiTT as we cover the latest on this exciting new venture.
Looking to grasp this startup landscape? Browse 1,200+ Transport & Logistics startups in EVMs