Sustainable mobility solutions provider Neo Mobility (Neo) has launched its last-mile logistics solutions in the UAE, after closing a USD 10 mn pre-launch seed funding round, according to a press release. The funding round saw participation from Delta Corp, Pyse Sustainability Fund, and other angel investors. The company will launch operations with a fleet of GSO-certified EV motorbikes with a driving range of 175 km, the press release said, adding that it’s the first all-electric last-mile startup in the GCC.

Where the money will go: The funds will be used to expand Neo’s fleet to 5k two-wheeler and four-wheeler electric vehicles by 2025, the press release said. The funding will also help the startup expand its technology team, CEO and cofounder Abhishek Shah added.

The startup will also establish EV charging infrastructure and battery swapping stations across the UAE, the statement added. Neo will also tap the ride hailing sector with its fleet of Tesla cars, the press release added. It also plans to introduce innovative leasing solutions, including potentially leasing its fleet to third-party logistics (3PL) companies, it added.

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