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NETANYA, Israel, Jan. 31, 2023 /PRNewswire/ Jungo (TASE: JNGO), a global supplier of in-cabin sensing AI software, and one of the leading companies in the DMS industry, launches a new platform ....
Udrive, a pay-per-minute and daily car rental platform, has expanded into Saudi Arabia to serve its widening customer base, gearing the company for triple-digit-percentage growth and accelerated profitability in the Gulf region over the next 12 months. ....
Udrive received strategic investments of US$5 million from Cultiv8, the government’s SME and startup investment arm, and Oman Holding International. The investment will support the company’s upcoming expansion in the region and enhancements of its technology. ....
Employees: 40 Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed+ round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target. Covid-19 threw up all sorts of challenges to businesses last year – from restaurants that couldn’t open their doors to manufacturers struggling to source parts. For Udrive’s founder Hasib Khan, the biggest challenge was one of funding. The car-sharing start-up, which was operating a fleet of more than 570 vehicles, was in the midst of its Series A round when the pandemic struck. “We had millions of dollars committed,” he says. “We had signed commitments and it all blew up because of Covid. So we were stood there with nothing.” ....