iMile raises $10 million in pre-series A
Source: Tha National
iMile, a Dubai-based last mile delivery company, plans to open a new research and development center in the region and expand its services across the Middle East after raising $10 million (Dh36.7m) in pre-Series A funding, the company’s founder said.
The funding round was led by a China-based venture capital firm that specialises in the logistics industry and will help the start-up roll-out its services to Egypt, Kuwait and Morocco in its push for regional expansion, Rita Huang, told The National. She did not name the Chinese backer of the firm.
“Improving iMile’s tech prowess, customer experience and hiring new talent are our top priorities in the coming months,” Ms Huang, who is also the chief executive of iMile, told The National. “Some analysts say that logistics is out-of-fashion now… [but] as a next generation company, we see massive potential.”
“Our aim is to develop local solutions and technology to address regional needs. An indigenous R&D centre would also promote knowledge and capacity building in the region,” she added.
“This [new] funding will enable us to continue our work of creating innovative last mile solutions and scale our business.”
Before starting iMile, she was the chief technology officer of an Alibaba-Meraas cloud computing joint venture in Dubai. Prior to that she was the country manager for Huawei in the UAE.