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Turkish Volt Lines Raises $1.28 Million In A Round Led By Dubai Angel Investors

With the fund raised, Volt Lines will be able to proceed with plans to expand in MENA region.

Participants in the Tech Day Startup Pitching Contest are already making headlines as Istanbul-based Volt Lines announces funding for a total of $1.28 million pre-series A. Dubai Angel Investors led the round with $780,000, while the rest of the funds raised were followed up by MEVP, Hedef Filo, and Wassim Matar.

“I’m thrilled to see Dubai Angel Investors joining our journey and solidifying Volt Lines’ connection to Dubai and the region," says Ali Halabi, founder and CEO of Volt Lines, commented:"Having this incredible network on-board brings Volt Lines closer to a strong and meaningful MENA launch as we continue to exponentially grow our Turkish business.” 

Volt Lines, a Turkey-based startup, offers an innovative subscription-based transportation service to digitise employee transport. With this funding, Volt Lines will more than double its engineering team, rapidly enhance its growth in Istanbul, and finalise plans for its MENA expansion.

“Tech Day was a great platform to showcase startups, and we are certainly excited to be the lead investor for Volt Lines as they modernize mobility in the transportation sector,” says Co-Founder of Dubai Angel Investors Kushal Shah. 

“With the future being increasingly adaptive, prioritising customers choice, affordability and relevance, I believe Volt Lines will bring the well-thought "City As A Service" concept closer to our region.” adds Shah.

 

Showcasing some of the most exciting and original tech, energy and smart transport solutions, ten regional and international startups compete for investment at last week’s Tech Mix hosted at the Dubai Chamber of Commerce.

Other startups emerging with success from the event were Wimo, a last-mile management software that helps companies streamline fleet operations and increase their revenue stream; Junkbot, a DIY robotic kit that enables young and old to transform household objects and junk into creatively imaginative robots programed for a variety of functions; and lastly, Greenrail, an innovative Italian SME that designed and invented an innovative and sustainable railway sleeper made with an outer shell in recyclable plastic and rubber obtained from the recovery of End of Life Tyres.

A collaboration between internationally reputable consulting firm Roland Berger and Bank Intesa Sanpaolo, The Tech Mix event, designed to facilitate and foster Italian-Middle East tech partnerships, brought in more than 250 of the city’s tech leaders and innovators backed with a large delegation from Italy.

During his opening remarks, Shah unveiled the Roland Berger map of the new world and discussed the exciting city as a service concept, explaining the movement towards introducing more integrated services for city dwellers, to reduce energy consumption, necessary to achieving a sustainable circular economy.

“The innovation on display, in addition to the insight shared by an unparalleled line up of speakers and panelists made this a truly remarkable and unprecedented event, and a real testament to the vibrancy and vitality of the regional tech ecosystem. We are delighted at the success of the region first ever Tech Day, and look forward to replicating it in the future,” says Samar Imtiaz, Head of Marketing at Roland Berger.




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