Investment

  • TRA signs agreement to fund ambitious Emirates Mars Mission 2117

    The Telecommunications Regulatory Authority (TRA), represented by ICT Fund, the TRA's funding arm, signed a cooperation agreement today with Mohammed Bin Rashid Space Centre (MBRSC). Under this agreement, the TRA will fund the Emirates Mars Mission 2117 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister and Ruler of Dubai.

  • UAE businesses increase tech investment due to pandemic, KPMG study finds

    Almost half of technology leaders, both globally and in the UAE, expect budgets for IT/technology to increase, driven by a surge in spending on operational efficiencies, customer engagement and data-driven insights. This is among the key findings of The Harvey Nash/KPMG CIO Survey 2020, one of the largest IT leadership surveys in the world, with over 4,200 responses from CIOs and technology executives across 83 countries.

  • UAE ride-hailing firm invests $500,000 in Egyptian public transportation start-up

    UAE ride-hailing services company Careem has invested $500,000 in a start-up entity which focuses on connecting commuters with private buses in the Egyptian capital city of Cairo. Careem, which is seen as Middle East rival to global ride-hailing colossus Uber, acquired the minority stake in SWVL after weeks of negotiations. It has also been disclosed that in addition to the investment, CEO and co-founder of Careem, Magnus Olsson will also join the board of SWVL.

  • Uber launches unique feature that empowers women in Saudi Arabia

    Global ride-hailing behemoth Uber has launched a new unique feature described as a global first in an effort to empower women in Saudi Arabia.

  • Uber reigns in ambitious valuation ahead of Wall Street debut  

    Global ride-hailing firm Uber has projected a more measured valuation ahead of its IPO debut on the New York Stock Exchange later this week.

  • UK digital innovation firm calls for partners to help extend its IoT network

    Digital Catapult which is a leading UK digital innovation firm has issued an open call for prospective partners to help it extend its Internet of Things network across the United Kingdom. The firm which specializes in accelerating the application of digital technologies - has expressed its ambition to enhance the capabilities of the services it currently provides.

  • UK government allocates £48m for ultra-low emission bus scheme

    The UK government has announced it will allocate £48m for an ultra-low emission bus scheme in England and Wales. The initiative was first introduced in 2016 as part of the government's overall strategy to reduce emissions nationwide.

  • UK government announces self-driving trucks to be tested in the UK next year

    The UK government has announced that it will begin testing self-driving trucks on public roads in Britain next year. Tests of self-driving trucks in Europe have been ongoing for the last two years, and now the Tory-DUP led coalition government have agreed to introduce the revolutionary technology that looks set to transform the transportation industry.

  • UK government invests £150m to make Glasgow a world-leading 'smart city'

    The UK government has announced that it is set to invest £150 million in digital infrastructure and open data in its efforts to make Scotland's biggest city, Glasgow, a world-leading 'smart city'. Glasgow has already received £24 million since 2013 which has been circulated through the Innovate UK innovation agency. The investment has served to not only enhance connectivity in the city, but it has also helped Glasgow develop technologies of the future that will be cost effective and energy efficient.

  • UK public express concerns over security and privacy in relation to smart cities

    A recent survey conducted on the topic of 'smart cities' in the UK - has unearthed some surprising results. Over 67% of those surveyed felt that the implementation of 'smart cities' was a bad use of public finances - and also expressed concerns over the privacy implications of 'smart cities'.

  • UK train companies embrace technology for ‘smarter’ travel

    UK rail firms are embracing technology and entering new partnerships in an effort to overhaul and transform its current travel systems. The rail industry in the UK has announced that it will publish more real-time information in a bid to facilitate technology firms aiming to develop intelligent travel apps for the future.

  • UK University launches ‘Smart City’ Mobility Centre

    The University of Warwick is set to host Europe’s first multi-million-pound Smart City Mobility Centre; a new facility for driverless capable vehicles that will plan for “transport systems of the future”.

  • US city launches interactive platform that measures smart city data

    A US city has introduced an interactive platform which will use live data to measure the city's metrics in relation to its performance, help demonstrate its transparency and encourage accountability. The city of St. Petersburg in Florida announced the launch of its innovative new platform as part of its overall strategic approach towards becoming a leading smart city in the United States.

  • US city receives $2.5m in funding after winning climate challenge program

    The US city of Seattle has been named as the inaugural winner of Bloomberg's American Cities Climate Challenge, an ambitious program which helps cities achieve their environmental and sustainability goals.

  • US city to construct high-speed underground transportation system

    South African entrepreneur Elon Musk has confirmed that Chicago looks set to become the first city in the United States to adopt his futuristic concept for mass transit. Tesla CEO Musk is the head of the futuristic transportation company entitled The Boring Company

  • US city unveils operating system to address mobility challenges

    The US city of Columbus has officially unveiled its new operating system that will harness transportation data that will then be utilized in order to tackle the city's ongoing issues with urban mobility.

  • US companies introduce new ‘drone technology’ to combat security fears

    XRY Drone lets investigators extract and analyze data from popular drone models being used for illegal activity - to reveal flight paths, origin, behavior and other critical information that can identify operators.

  • US Department of Energy invests $3m to accelerate development of EV infrastructure

    The US Department of Energy (DOE) has announced that it will invest $3.2m to the Electric Power Research Institute (EPRI) in an effort to assist in the scaling of electric vehicle (EV) charging infrastructure that connects to the grid.

  • US electric carmaker reveals plans to build cars in China

    US electric car manufacturer Tesla has informed its shareholders that it has entered into negotiations with officials in China in an effort to build electric cars and battery packs in Shanghai. Tesla which was founded by South African entrepreneur Elon Musk has come under fire in the US in recent months following a series of collisions, some fatal involving Tesla models.

  • US firm receives $150m investment to accelerate its deployment of technology in smart cities

    US smart cities technology and media firm Intersection has formally announced that it has received $150m in a recent funding round which was led by US conglomerate Graham Holdings Company. New investors Arrow-Mark Partners and New-Spring also invested. The strategic plan behind the financing round is to accelerate the deployment of its smart city technology on a global scale.