Dubai-based greentech startup Wize raises $16mn in pre-seed funding

The fresh capital is to be deployed for enhancing the company’s presence in the UAE market, further product development and exploring new partnership opportunities in the MENA market, the company said in a media statement.

Wize provides a comprehensive ecosystem to help delivery and retail businesses meet the UAE’s net zero requirements and follow the UAE Green Agenda.

Its services include electric motorcycles, Wize rental and subscription platform for business owners to manage their fleets 24/7, battery-as-a-service and swapping stations as well as software components.

The company offers subscription-based electric motorcycles, enhancing the sustainability of delivery operations in the UAE, while its rental and subscription online platform for business owners allows them to improve their bottom line and contribute to environmental sustainability.

The company is the first to install battery-swapping stations in the UAE, Wize Power. They enable drivers to easily exchange batteries when needed.

Wize also offers a software component of the battery-as-a-service, which allows it to manage battery swapping stations and monitor the condition of all batteries.

“The UAE’s Green Agenda 2030 actively encourages businesses to pursue more sustainable growth. 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.

Wize said it is currently in the process of establishing partnerships with well-known delivery companies in the region.

The company has already signed a long-term partnership with Motoboy, the UAE’s first sustainable logistics firm, with a long-term goal of achieving zero-carbon emissions through the exclusive use of electric bikes.