By Bernd Debusmann Jr
iMile currently operates in both the UAE and Saudi Arabia and plans to expand to Egypt, Kuwait and Morocco
Dubai-based last mile delivery firm iMile plans to open a new research and development centre and expand its services after raising $10 million in pre-Series A funding, according to local media reports.
In an interview with the Abu Dhabi-based The National, founder and CEO Rita Huang said that the fundraising round – that was led by a China-based VC firm – will help the firm introduce its services to Egypt, Kuwait and Morocco.
“Improving iMile’s tech prowess, customer experience and hiring new talent are our top priorities in the coming months,” Huang said. “Some analysts say that logistics is out-of-fashion now… [but] as a next generation company, we see massive potential.”
iMile currently operates in both the UAE and Saudi Arabia.
The company has two R&D centres in China, and plans to open a third in the Gulf in the next several months.
“Our aim is to develop local solutions and technology to address regional needs,” Huang said. “An indigenous R&D centre would also promote knowledge and capacity building in the region.”
iMile, which was founded in June 2017, has companies such a Amazon, Mumzworld and Noon as its clients.
According to data from UK-based Brandessence Market Research, the last mile delivery market is forecast to reach $61.57 billion over the next five years, up from $31.19 billion in 2018.