Innovator in the Internet of Things (IoT) and Artificial Intelligence (AI) eMushrif has announced the closing of an acquisition deal with Tareeqi, a Cairo-based startup that developed an application to track transportation.
eMushrif’s acquisition in Egypt is in line with its efforts to expand in the North African market.
This expansion is also part of eMushrif’s plans to attract more talent, as it works towards its mission of integrating IoT in people’s everyday lives.
The move is also a continuation of eMushrif’s regional expansion plans, following its acquisition of MyRoute, a Kuwaiti startup specialising in bus tracking applications, which allowed the Omani company to offer its services in the Kuwaiti market.
Adnan al Shuaili, CEO of eMushrif said, “The launch of our operations in Egypt is an opportunity for eMushrif. This bold step unlocks our ability to offer our products to various regional sectors looking for innovation and simplicity in their business processes. This acquisition offers us the proximity we need to the North African markets and an opportunity to attract outstanding technical talent to build a team capable of achieving our strategic goals in technical expansion.”
Founders Alfarouk Saleh and Mohamed Monier started Tareeqi back in 2018 to solve a problem that millions of people face daily. Saleh, CEO of Tareeqi, said, “I’m so excited about this deal because eMushrif tries to solve the problems that we are trying to tackle, which luckily gives us an opportunity to continue working on our main objective of building Tareeqi.”
Both companies will try to make bus trips easier for students, parents, school administrators and bus drivers.
“Traditional school bus rides are full of delays and problems, and the hardest thing about them is that they are repeated daily. Millions of people worldwide face these problems daily, which motivates us to work hard to reach more people and make their lives a little bit easier,” Saleh said.
The expansion of eMushrif in Egypt will help the company increase its technical capabilities by building a big tech team in Egypt, which is famous for having strong and experienced technical talent. eMushrif was established in 2016 and has succeeded in applying IoT to develop solutions to monitor the safety of students in school buses.
With the help of these technologies, eMushrif swiftly converted traditional school buses to smart and safe school buses.
With 500,000 IoT wristbands provided, besides a digital pre-travel registration platform, eMushrif has helped more than 2mn users from 150 countries enter the sultanate safely.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).