Gazal raises $2 million Seed funding
- Saudi Arabia-based micromobility startup Gazal has raised a $2 million (SAR 7.5 million) Seed funding round, led by angel investors and family offices, bringing its total valuation up to $6 million (SAR 22.5 million)
- Launched in 2020, Gazal offers shared e-scooters and bikes as alternatives for short-distance travel.
Gazal, a Riyadh-based micromobility startup, has raised $2M (SAR 7.5M) in a Seed funding round, led by angel investors and family offices.
Gazal was established in 2020 with an aim to transform and redesign the future of transportation in KSA and the GCC region for short-distance travel and bring into use sustainable, green and healthier alternatives. The company was founded with the vision of giving everyone access to the full potential of the cities in Saudi Arabia.
The funding rounds brings the valuation of Gazal to a post-money value of $6M (SAR 22.5M).
Haytham Alsuhaimi, Co-Founder of Gazal commented, "We are determined to revolutionize transportation and contribute to the reduction of air pollution with simple, safe, and sustainable mobility solutions. Enhancing the quality of life and helping to make streets full of people rather than cars is a top priority to Gazal. As urban populations are growing in our cities we at Gazal are bringing new solutions for moving people in cities."
Mr. Ibrahim Almuhanna, an investor in this round said, "With the increasing numbers of vehicles on the roads, our busy city centres are frequently congested with commuters fighting for limited parking spaces and instead of enjoying the journey it becomes incredibly stressful. The intersection of technology innovations such as mobility, connectivity, and automation with business model innovations such as shared mobility is fundamentally changing the way how people move."
Mr. Abdulrahman Alhashimi, Gazal’s Product Manager added, "It has always been proven that startups are making the difference and so is Gazal. Gazal will contribute a lot to the dramatic changes and improvements that Saudi Arabia is experiencing nowadays for making a greener and healthier life."
Gazal aims to create the infrastructure to become an integrated part of every community in KSA and to create greener and liveable cities with less congestion noise and pollution.