The UAE’s last-mile mobility and logistics startup Wize has raised $16 mn in a pre-seed round co-led by MENA-focused angel investors, the company said in a press release. The funding will go toward developing new products, expanding Wize’s presence in the UAE, and exploring new opportunities in MENA.
Wize, which was founded in 2022 by Alexander Lamkazov, offers an eco-friendly mobility platform that uses electric motorcycles to support delivery and retail businesses. Wize’s ecosystem includes a marketplace for electric motorcycles, a rental and subscription platform for businesses to manage their fleets, and battery-swapping stations. It also has a software component for its battery-as-a-service, which entails managing battery swapping stations and on-going monitoring of battery conditions. Its rental and subscription platform helps companies manage and optimize fleets by gathering data on usage, driver behavior and battery conditions of its vehicles.
Wize has a long-term partnership with UAE-based sustainable delivery service provider, Motoboy.
Through its service provision, it aims to help businesses meet the UAE’s net zero requirements as set out in the UAE Green Agenda 2030.
The UAE Green Agenda aims to increase the UAE's GDP by four-five percent as well as to increase its exports by $6.5-6.8 bn (AED 24-25 bn) and reduce emissions to less than 100 kw-hours.