A group of investors have put $5 million into the region’s largest weather company, ArabiaWeather Inc.
The Arabic mobile app and website with weather data offerings for businesses and consumers, closed the funding round led by Badia Impact Fund, a venture capital fund that is part of Silicon Badia, and Wamda Capital, and including DASH Ventures and Dubai-based Jabbar Internet Group.
Badia Impact Fund first invested in the company at the end of 2014 when ArabiaWeather raised $2 million, led by new investor, and joined existing investors Jabbar Internet Group, DASH Ventures, MENA Venture Investments, and others.
"The size of the two rounds are very promising for ArabiaWeather. It shows a lot of interest and belief in the vision and the team to execute on their plans,” said Walid Faza, partner and investment principal at Wamda Capital, told Wamda.
“This investment is indicative of the change that we are witnessing in the region when it comes to venture capital funding.”
Mohammed Al-Shaker, founder and CEO, said his team, which includes Osama Al-Tarifi, chief operating officer, and Yousef Wadi, chief product officer, will use the investment to expand its offerings to the aviation sector, enhance the company’s proprietary unique weather technology and develop an extensive network of automatic weather stations across the region.
Launched initially in 2006 as a weather.com for the region and relaunched in August 2013 as ArabiaWeather, the company has attracted 35 million consumers in the GCC region with weather forecasts and related information.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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