Arcab raises undisclosed Seed Round from We Founder Circle and others
We Founder Circle, an early-stage startup investor, participated in the Seed Round raised by Arcab, a technology-enabled bus aggregator. The undisclosed round witnessed participation from other esteemed investors, including UpSparks VC, Charles and Zaim Azrak and other strategic angel investors.
Arcab allows fleet owners to make more money by increasing the utilization of their vehicles. The Dubai-based startup works with 40+ operators including Europcar, Avis, and Dubai Taxi corporation with over 3K+ buses in their supply pool.
Neeraj Tyagi, Co-Founder and CEO, We Founder Circle, said Arcab has come up with a unique business model, executing a fine technology infrastructure. “They have identified some really good markets for expansion that hold great potential. Their business model will not just offer services to organizations and users, but also empower owners with fleets to get the ball rolling again. WFC is glad to be supporting the startup and can see its growth trajectory already.”
Bilal Shabandri, Co-Founder and CEO, Arcab, said they are humbled by all the support they have the company has received from its investors and partners. “The next 18 months are going to be very exciting and crucial for us to move quickly, ramp up our operations and scale our footprint in the region.”
The brand plans at utilizing the funds to build, maintain and scale the technology infrastructure that facilitates the multi-sided marketplace. The start-up will also focus on activities related to scaling operations, building the brand and creating sales and marketing engine to fuel the expansion in the region.
Also Read: Omicron variant could slow global economic growth
Its USP lies in its tech enablement which allows a fleet operator to reduce downtime, avoid manual control, optimize fleet, and increase profits. Arcab is tackling the 250B$ MENA market for moving people and things starting with the UAE. The company works with 40+ Operators including Europcar, Avis and Dubai Taxi corporation with over 3k+ buses in their supply pool.
Pingback: The omicron variant has been detected in 38 countries.