EGYPT – BlinkApp, the Cairo-based mobility risk assistance startup, has raised a six-figure pre-Seed round, led by investors located in UAE and KSA, to finance its ambitious expansion plans
BlinkApp aspires to have its technology installed on smartphones with the main vision of achieving better general driving behaviour, faster roadside assistance and safer roads for everyone.
Wael Noufal, the co-founder and CEO of BlinkApp, said the real edge of BlinkApp is that it’s a full platform that can work as stand-alone or integrate with other apps.
Not only that but also most of the processing is based on edge computing, not cloud computing, which saves a lot of time and money for BlinkApp customers.
In addition, BlinkApp offers customers very competitive subscription fees while enjoying high quality and performance.
Mr Noufal said they have already contracted with one of the biggest insurance companies in Egypt, gig-Egypt, which makes it the first Egyptian insurance company to utilise smartphone and AI technology. They are eagerly anticipating announcing the campaign together within weeks.
By 2025, BlinkApp aims to onboard six million users and reach US$5 million GMV transactions from B2C & B2B sectors excluding individuals, insurance companies and fleet owners. BlinkApp expects revenue of US$19.8 million in 2025.
Founded in 2017 by Mr Noufal and Prof. Ahmed El-Mahdy, BlinkApp brought science, technology, and business together to bring a cutting-edge mobile solution to life. Based on artificial intelligence, BlinkApp saves people’s lives and minimises the driving behaviour risk impact on vehicles and accidents.
Whether the customers are an insurance company, a fleet owner or simply an individual who wants to be safe on the road, BlinkApp will support them.
BlinkApp captures and analyses thousands of miles of data, using smartphone’s sensors and AI technology, to monitor drivers’ behaviour, detect collisions, and generate insightful reports to guide and assist customers.
In 2017, BlinkApp was selected as a first-place winner among the 79 finalists who competed for the ideas track in the MIT-Pan Arab competition that was held in Manamah, Bahrain, where it was awarded US$15,000.
BlinkApp has raised two zero-equity grants before, with around US$210,000, from ITIDA through the ITAC programme to develop research incorporation with Egypt Japan University for science and technology (EJUST). BlinkApp and EJUST registered and filed two patents.
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