UAE-based FasterCapital unveiled a new initiative on supporting and funding electric vehicle (EV) startups worldwide.
The initiative, part of FasterCapital’s Raise Capital programme, aims to empower innovative EV companies by providing financial support, strategic advisory services, and access to the investment firm’s global network of investors.
The move is in response to the growing demand for sustainable transportation solutions in the Middle East, and also globally, the firm said.
As part of this initiative, FasterCapital said it will aid EV startups at various stages of their journey – from concept and prototype development to scaling production and market expansion.
This support will include mentorship from industry experts, customised financial planning, and strategic connections with stakeholders in the EV ecosystem.
“With the global transition towards cleaner energy and transportation, we recognize the critical role that EV startups play in shaping the future of sustainable mobility,” said Hesham Zreik, CEO of FasterCapital.
“Our new initiative is dedicated to providing these companies with the resources and guidance they need to drive innovation and make a significant impact,” he said.
The firm said startups interested in joining the initiative will be offered tailored support to meet each company’s specific needs.
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