Dubai-based greentech startup Wize secures $16m for last-mile delivery in UAE

Dubai-based greentech startup Wize secures $16m for last-mile delivery in UAE

Alexander Lemzakov, co-founder and CEO of Wize.

Wize, the Dubai-based startup that provides sustainable last-mile delivery solutions, has announced raising $16 million in its pre-seed funding round backed by Middle East and North Africa (MENA)-focused angel investors.

The fresh capital will be used to expand Wize’s presence in the UAE market, further develop its product offerings, and explore the MENA market, according to the announcement.

The B2B startup said it has developed an ecosystem that helps delivery and retail businesses in the UAE and MENA meet the region’s net-zero requirements.

Wize offers electric motorcycles, rental and subscription platforms for business owners to manage their fleets, battery-as-a-service and swapping stations, as well as the Battery Swap App for drivers.

Its platform gathers data on driver behaviour, location, speed, and charge levels of the connected vehicles. It can also be adopted as a white-label solution by any logistics company that wants to rent out its vehicles, the startup said.

The company claims to be the first to install battery-swapping stations in the UAE, enabling drivers to easily exchange batteries when needed.

Wize said its offerings are in line with the UAE’s net-zero requirements under the UAE Green Agenda 2030, which was launched with the aim of reducing the country’s emissions to less than 100 kilowatt-hours, among others.

“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,” said Alexander Lemzakov, co-founder and CEO of Wize.

The GCC’s last-mile market is set to grow to $1.9 billion by 2027 at an 8% compounded annual growth rate, data cited by Wize show. The World Economic Forum also reported that the number of delivery vehicles in the largest 100 cities of the world will increase by 36% until 2030, which is expected to raise carbon emissions from delivery traffic by 32%.

Edited by: Joymitra Rai

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

This is your last free story for the month. Register to continue reading our content