BlinkApp, a Cairo-based mobility risk assistance startup, has raised a six-figure pre-Seed round led by investors from the United Arab Emirates and KSA.
BlinkApp intends its technology to be installed on smartphones with the goal of improving overall driving behavior, providing speedier roadside assistance, and making roads safer for everyone.
The real advantage of BlinkApp, according to Wael Noufal, co-founder and CEO, is that it’s a whole platform that can act as a stand-alone app or integrate with other apps. Not only that, but the majority of the processing is done on the edge rather than in the cloud, saving BlinkApp customers a lot of time and money. Additionally, BlinkApp provides clients with very low subscription fees while maintaining high quality and performance.
Mr Noufal stated that they have already signed a contract with gig-Egypt, one of Egypt’s largest insurance companies, making it the first Egyptian insurance company to use smartphone and AI technologies. They’re looking forward to announcing the campaign together in the coming weeks.
By 2025, BlinkApp aims to have onboarded six million users and transacted $5 million in gross merchandise value (GMV) in the B2C and B2B sectors, excluding individuals, insurance companies, and fleet owners. In 2025, BlinkApp intends to generate $19.8 million in revenue.
BlinkApp was founded in 2017 by Mr Noufal and Prof. Ahmed El-Mahdy to combine science, technology, and business to create a cutting-edge mobile solution. BlinkApp, which is based on artificial intelligence, saves lives and reduces the impact of risky driving behavior on vehicles and accidents. BlinkApp will support its customers, whether they are an insurance company, a fleet owner, or simply a person who wants to be safe on the road. BlinkApp monitors drivers’ behavior, detects crashes, and generates insightful reports to guide and support customers by capturing and analyzing thousands of miles of data using smartphone sensors and AI technology.
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 $15,000.
The story started when Mr Noufal had a car accident in Egypt by the end of 2013. At that critical moment, he couldn’t find his mobile and even when he did, he didn’t remember any emergency numbers to ask for help. That’s when it all started. Mr Noufal initiated discussions with his partner Prof. Ahmed El-Mahdy about how to protect others from living this fearful experience. Triggered by the motivation to help others, Mr Noufal started his research that resulted in BlinkApp. Through ITIDA’s (Information Technology Industry Development Agency) research fund and with the help of a highly skilled team, BlinkApp came to light. The team succeeded in developing a new methodology for accident and driver behaviour detection using smartphones – a technology that can literally save lives!
BlinkApp had already raised two zero-equity grants from ITIDA, totaling roughly $210,000, as part of the ITAC programme to develop research collaborations with Egypt’s Japan University for Science and Technology (EJUST). Two patents were registered and filed by BlinkApp and EJUST.