UAE – Mubasher: Dubai-headquartered electric vehicle (EV) startup Neo Mobility has launched its last-mile logistics solutions in the UAE after raising $10 million in a Seed funding round.
The fundraising was led by Delta Corp Holdings, Pyse Sustainability Fund, and angel investors, according to a press release.
Neo Mobility will use the investment to widen its operations to a fleet of 5,000 two-wheeler and four-wheeler electric vehicles (EV) by 2025.
In line with the UAE Net Zero and COP28 agenda to build a greener future, Neo is MENA’s first business-to-business (B2B) startup to offer last-mile solutions through a captive EV infrastructure business model.
Abhishek Shah, CEO and Co-Founder of Neo Mobility, said: “These funds will support the development of cutting-edge technology team expansions aimed at optimising fleet deployment and elevating the customer experience.”
“Neo’s two-wheeler fleet sets a new standard in the UAE, featuring motorbikes rather than mopeds. The e-motorbikes offer superior durability, delivering enhanced riding experience and safety, with seamless adaptability similar to traditional IC engine bikes,” Shah added.
Mudit Paliwal, CEO and Founder of Delta Corp Holding, commented: “This investment marks an exciting expansion to our sustainable last-mile logistics presence, elevating our investment portfolio, which includes Zyngo and Three Wheels United in India, as we work towards a global EV strategy.”
