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UAE’s Wize secures $16m funding to explore partnerships in MENA

UAE’s Wize secures $16m funding to explore partnerships in MENA
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UAE – Mubasher: Dubai-based logistics startup Wize has raised $16 million in a pre-seed funding round co-led by MENA-focused angel investors, according to a press release.

Wize will use the funds to expand its presence in the UAE market and explore new partnership opportunities in the MENA market.

In accordance with the UAE Green Agenda, the company plans to help delivery and retail businesses meet the Gulf nation’s net-zero requirements.

Wize is also focused on the software component of the battery-as-a-service, as it created the UAE-first software that aligns with the country's local laws and data.

The company has its own software, which enables it to manage battery swapping stations and monitor the condition of all batteries.

Alexander Lemzakov, Co-Founder and CEO of Wize, commented: “We are proud to offer an innovative full-service solution that empowers retailers and delivery companies to progress toward achieving net-zero emissions and significantly reduce their carbon footprint.”

Meanwhile, Wize is teaming up with well-known delivery companies in the region. The mobility and logistics startup already signed a long-term partnership with Motoboy, the UAE's first sustainable logistics firm, to achieve zero-carbon emissions through the use of electric bikes.