UAE-based scooter startup Fenix raises $3.8M Seed round |Launches to make mobility easier & simpler


Fenix, a UAE-based scooter startup has launched after raising $3.8M in seed funding led by isreal VC firm Maniv Mobility.

Founded earlier this year by Jaideep Dhanoa and IQ Sayed, Fenix is a scooter startup that wants to make mobility easier, cheaper, and simpler. The startup begins operations in Abu Dhabi and then expand into more markets in the MENA region.

In a statement, Jaideep Dhanoa, Co-Founder and CEO said, “We hope this investment is just the start of a cross-pollination of talent, capital, and innovation between the nations that can only be an accelerant in the development of a true middle-eastern tech ecosystem that will greatly benefit the region and its people at large.”

IQ Sayed, Co-Founder of Fenix says the birth of Fenix is conjoined with the rebirth of cities, societies, and economies in the region as they transition out of COVID-19 lockdowns. Sayed believes micro-mobility has an important role to play in navigating an uncertain present to a better tomorrow.

“We want to transform the way our cities move and ignite impactful commerce by making mobility easier, cheaper, and quite simply redesigned, so we can all reach our potential. Increasing mobility connectivity creates a more productive and inclusive economy and facilitates local commerce in our communities. Our collaboration with Maniv Mobility and this historic seed investment provides the resources and expertise for Fenix to build technology innovations that best service the mobility needs of the people and city partners in our region.”

Fenix is not the only scooter startup in the region as Slyd, MENA’s first electric scooter ride-sharing platform was last year launched in Cairo, Egypt to give users the freedom to pick up and ride personal electric scooters and drop them whenever they need.

Bolt also had plans to launch its Scooter services in more markets including Africa. Both Fenix and Slyd were founded by ex-Careem executives.

Maniv Mobility sees the GCC region as a new market for micro-mobility and it sees its investment as the best way forward to change the mobility future across the region.

” At Maniv Mobility, we eat, breathe, and sleep mobility, so we are able to support the team as they bring their service to market and rapidly expand across the Middle East,” said Michael Granoff, Maniv Mobility Founder, and Managing Partner.