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Dubai-Based Greentech Startup Wize Secures $16M in Pre-Seed Funding

Jonathan Wong

Jonathan Wong

17 November 2023

Dubai-based startup Wize has successfully raised $16 million in a pre-seed investment round from angel investors. The funds will be utilized to expand market presence, explore collaboration opportunities, and develop new eco-friendly products. Wize has partnered with UAE delivery firms, including Motoboy, to achieve zero-carbon emissions using electric bikes. This collaboration allows Wize to monitor motorcycle usage and better understand customer needs, aligning with the UAE's Green Agenda 2030 for sustainable growth.

Founded in 2022, Wize operates as a B2B platform offering last-mile delivery options in the MENA and UAE regions. The company provides electric motorcycles through a subscription model, aiming to streamline delivery processes and contribute to net-zero emissions. Alexander Lemzakov, Wize's co-founder and CEO, emphasizes the company's commitment to providing a cutting-edge solution for merchants and delivery services to significantly reduce their carbon footprint.

Wize's platform enables business owners to monitor fleets in real-time, collecting data on driver behavior, location, speed, and charge levels. The company asserts compliance with UAE courier transit laws, offering a white-label option for logistics organizations to rent out their electric vehicles. The funding round will further enhance Wize's capabilities in meeting transportation needs in the region.

In a related funding development, cybersecurity startup SpiderSilk in Dubai secures $9 million, indicating the growing investment interest in sustainable and technology-driven ventures in the region.