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Monday, 15 November 2021

BlinkApp raises six figures in pre-seed round

Cairo-based road safety startup BlinkApp has closed a six-figure pre-seed round led by undisclosed Saudi and Emirati investors, the startup announced in a statement. The company did not reveal the currency of the investment. BlinkApp had previously raised two zero-equity grants with around USD 210k, from ITIDA.

BlinkApp uses AI to minimize the driving behavior risk impact on vehicles and accidents. The company’s technology captures and analyzes thousands of miles of data, using smartphone sensors and AI technology and through them it monitors drivers’ behavior, detects collisions and generates insightful reports to guide and assist customers. The app works on its own or it can be integrated into other apps.

Looking ahead: The company is hoping to have 6 mn users and raise revenues to almost USD 20 mn by 2025, it said in the statement. The startup has linked up with ins. company gig-Egypt in a partnership that will be announced in the coming weeks, CEO Wael Noufal said.

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