"We Got Funded!" UAE-Headquartered E Daddy Raises US$15 Million In Funding To Enhance Its Electric Vehicle Offering
Summary
The investment is set to accelerate E Daddys endeavors towards becoming a recognized EV manufacturer in the UAE and the wider GCC and Africa regions.The key investors who participated in the round were Kabeer Khader and Kabeen Khader -Chief Exective Officer and Chief Operating Officer, respectively- of Euroblast Middle East LLC, a UAE-based design engineering and solution provider that caters to the blasting and coating industry.Founded in 2023 by Mansoor Ali Khan Abdul Buhari and Yasmeen Jawahar Ali, E Daddy aims to make sustainable urban mobility an accessible option not just for corporate industries, but for the general public as well.The company has already set up two Dubai-based state-of-the-art facilities in this regard- one in Dubai Industrial City, and the other in National Industries Park.Ali says that E Daddy has positioned itself as the first company to manufacture two-wheeler EVs entirely within Dubai, as its approach integrates innovative methods, including self-diagnostic techniques and unique battery technology featuring a double-layer cooling system. E Daddys long-term vision includes playing a pivotal role in the UAEs green transition, contributing to global sustainability efforts, and setting a standard for environmental responsibility in the automotive industry. Egypt-Based Synapse Analytics US$2 Million Funding Round Is Set To Expand Its Artificial Intelligence Technologies Across The GCC And AfricaIndeed, a big part of E Daddys overall journey has been directed by the UAE governments proactiveness towards sustainable development. "Now, while the UAE government has always been a notable pioneer in driving sustainability in the region, Ali says that there has been a palpable shift towards more positive conversations on the topic following the countrys hosting of the 28th edition of the Conference of the Parties of the United Nations Framework Convention on Climate Change (COP28). "We will focus on enhancing battery technology to improve range and efficiency, increasing vehicle durability to ensure long-term reliability, and adapting our products to the specific needs of the region.