Dubai-based startup Seez has raised $6 million from strategic partners and VCs in a 5x oversubscribed Series A funding round. The 3-year old tech startup facilitates the car shopping journey for buyers with its Seez App, which offers a smart search engine for car listings and proprietary, AI-powered pricing and negotiation tools. The funding will go towards several new verticals that tap into the $10 billion second-hand automotive market in the UAE, as well as other regional markets. One new Seez service is an online buying option that allows users to purchase cars entirely online. Meanwhile newly-launched Seez Cross-Border Car Shopping, a fully-digital car import/export service, makes it possible for people in other countries to buy cars from the UAE using the app. Of the approximately 275,000 used cars sold in the UAE in 2019, close to half were for export outside the country (120,000 cars) — an unaddressed market with substantial potential.

“From the very beginning we have been using technology to change how people shop for cars. During the first 3 years we focused on building our product and growing our user base. Now we are leveraging this platform and using it as a launchpad for all these exciting new services we want to launch,” says CEO Tarek Kabrit.

The alliances forged between Seez and its strategic partners — regional automotive heavyweights who distribute a total of 9 top global car brands — fuels the startup’s product development while supporting the industry in its digital transformation, which means more disruptive and unique offerings for consumers.

Over the past 3 years, the Seez app has grown to 1 million users and expanded to 5 countries. With almost 500k cars listed on its platform, it serves as the largest car catalogue in the region. As the company adds new services, it aims to benefit from synergies across various markets.

Seez has had strong, symbiotic relationships with the region’s auto industry for almost two years, providing leading OEMs  and dealerships with a SaaS product that uses AI and big data to optimize businesses operations, as well as predictive analytics to plan inventory and pricing.

Other investors in the funding round include German VC Crealize, regional VCs Wamda, B&Y, and Phoenician Funds, as well as several angels. Seez had previously raised $3.2 million over two rounds, bringing its total funding to date to $9.2 million.

About Seez: Seez is a data-first automotive platform. The free Seez mobile app offers a smart search engine for online car listings, as well as proprietary, AI-powered tools, and services that make the car shopping journey easier, faster, and more efficient. www.seez.co

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.