Wize raises $16m to expand sustainable logistics in MENA

Alexander Lemzakov, co-founder and CEO of Wize / Photo credit: Wize

Wize, a Dubai-based logistics startup, has raised a US$16 million pre-seed round, which was co-led by a consortium of angel investors focused on the Middle East and North Africa (MENA) region.

This investment enables the company to expand its operations across the United Arab Emirates, drive further advancements in product development, and forge new partnerships within the MENA region.

Funding details

• Funding amount: US$16 million
• Stage: Pre-seed
• Source

Wize has a suite of services catered to delivery and retail businesses. These include electric motorcycle services, a rental and subscription platform, a battery-as-a-service offering, and swapping stations, along with other software components.

The firm said it is the first company to install battery-swapping stations, which it brands as Wize Power, in the UAE. The accompanying battery swap app allows drivers to find and reserve batteries in advance.

Wize, which says it is the first company to install battery-swapping stations in the UAE, has already partnered with delivery firms in the country, including sustainable logistics firm Motoboy.

“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.

More details