Dubai startup raises $1.5m to use AI to reduce vehicle accidents and opens US office in Detroit –
Summary
Derq aims to make cars smarter and recently raised $1.5 million in seed funding after graduating from Techstars Mobility Accelerator. In addition to growing its team and opening an office in Detroit, the company plans on using the cash to advance its tech that aims to reduce vehicle accidents by improving how cars and infrastructure talk to each other. The company is based in Dubai and plans to soon open its first office in the US in downtown Detroit and seek partnerships with auto makers. The company says this Memorandum of Understanding aims to demonstrate the feasibility and benefits of connected vehicle technology in regards to road safety. “While headquartered in Dubai, we recently graduated from Techstars Mobility in Detroit, and felt it was important to open an office in Detroit – the epicenter of mobility innovation in the U.S. Our recent seed round will help Derq establish a team here, grow our team in Dubai and continue improving our technology.” The vehicle communication sector is quickly gaining new entrants as more companies try to become a key part of what is sure to be an important communication layer.