Neo Mobility, a burgeoning last-mile logistics firm based in Jumeirah Lakes Towers, Dubai, has successfully raised $10 million in a seed round, marking a significant milestone in its mission to revolutionize last-mile transportation in the UAE.
The funding, sourced from green asset financing platform Delta Corp Holdings, global logistics and distribution company Pyse Sustainability Fund, and a cohort of angel investors, is set to propel Neo Mobility’s ambitious plan to operate 5,000 electric vehicles (EVs) across the Emirates.
Under the dynamic leadership of Abhishek Shah, CEO and co-founder, a former professional at PricewaterhouseCoopers, and Anish Garg, ex-COO of Trukker, Neo Mobility is set to make a transformative impact in the local logistics landscape.
In an effort to combat the environmental impact of traditional motorbikes on UAE roads, which account for a substantial 480,600 tonnes of CO2 emissions annually, Neo Mobility plans to replace petrol-powered mopeds with its state-of-the-art e-motorbikes, introducing a new era of sustainable last-mile delivery services.
Speaking about the recent funding success, Shah emphasized the importance of technological advancements and customer satisfaction, highlighting the company’s commitment to enhancing fleet deployment and service quality.
Mudit Paliwal, CEO and Founder of Delta Corp Holding, expressed his enthusiasm for the collaboration with Neo Mobility, citing the company’s dedication to sustainable logistics as a pivotal driver aligning with regional sustainability goals.
Neo Mobility has also pledged to prioritize the well-being of its drivers, offering comprehensive insurance coverage, fixed working hours, and robust support systems to ensure their safety and job satisfaction.
With a strong emphasis on eco-friendly solutions and cutting-edge technology, Neo Mobility’s vision for a greener, more efficient logistics landscape in the UAE is poised to set a new standard in the realm of last-mile transportation.