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FINANCIAL NEWS
UAE receives USD1.7 m from transportation technology investment
15 Sep 2013
(MenaFn) The ground transportation technology, lead by STC Ventures, gained USD1.7 million in the UAE, according to Arabian Business.
STC Ventures, backed by Saudi Telecom Company, owns the majority fund of the investment which is planned to cover and operate across the Middle East.
“We are very excited to have STC Ventures as an investor and partner. This investment will accelerate our regional expansion plans and further strengthen our operating platform that needs to cater to relatively complex logistics of the region,” Co-founder of Careem, Mudassir Sheikha commented.
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