- UAE-based automative retail platform Seez has raised $5 million in a pre-Series B round from Nuwa Capital, Crealize, BY Venture Partners, Omran Group and other angel investors.
- Launched in 2016 by Tarek Kabrit and Andrew Kabrit, Seez’s AI-integrated platform enables users to buy cars from official dealers and individual resellers.
- In 2020 Seez raised a 5x oversubscribed Series A round of $6 million and had previously raised $3.2 million, bringing its total funding to date to $14.2 million.
Dubai-based automotive retail startup Seez has secured a stellar $5M in its latest funding round. The Pre-Series B round, twice oversubscribed, observed participation from Nuwa Capital, Crealize from Germany, BY Venture Partners (BYVP), Omran Group, and multiple key angel investors. In 2020 Seez raised a 5x oversubscribed Series A round of $6M and had previously raised $3.2M, bringing its total funding to date to $14.2 million.
Launched in 2016, Seez started as an AI-based image recognition app for cars, later developing it into a car listings aggregator app in five markets, also offering AI and data tools for car buyers. Through their Tech and AI-integrated platform, users can buy cars from official dealers or even from individual resellers, disrupting the predominantly offline car dealership dynamic and opening the potential for new leads and untapped revenue generation.
The UAE remains the largest VC ecosystem across MENA as most recently recorded in our August 2021 Venture Investment Dashboard. Closing the highest number of transactions (down 20% YoY) and raising the highest amount of funding, driven by a 67%YoY increase in funding volume in August 2021 YTD. However, what is even more interesting than the E-commerce sector being the second-most transacted and third-most funded ecosystem across MENA in 2021 YTD, is the online peer-to-peer application models that seem to be integrating into every industry from Real Estate with Nomad Homes & HotDesk, Delivery & Logistics with Cloud Fret, to even office management and recruiting with Saudi-based Sabbar. What makes the UAE-based platform offered by Seez unique, however, is the potential of their AI stack, the variety of their listing, and the almost 5 years of experience in the Automotive Industry.