Flyby will use the funds to launch a fleet of smart delivery boxes in Dubai, as well as further develop its technology.
Flyby, a Dubai-based smart delivery box and mobile digital out-of-home (OOH) advertising company, has raised $1 million in a seed round led by FHS Capital, based in Silicon Valley, USA, and VN2 Capital, based in London, UK.
Founded in 2019, Flyby aims to make roads safer through its smart delivery box, which includes an array of sensors and technologies.The box also tracks driver behavior, with a focus on motorbike drivers. At the same time, Flyby provides restaurants and fleet operators in the food delivery business with the opportunity to use its box for ad space, giving them more visibility on roads.
“This investment signals that Flyby could positively disrupt a rapidly expanding sector,” Saher Khattab, Flyby’s official representative, tells StartupScene. “It’s a significant milestone on our ambitious journey, a vote of confidence to get our Flyby boxes on the streets of Dubai.”
Through its patented smart delivery box and cloud-base interface, advertisers can book ad space directly on Flyby and secure per-minute advertising, scaling from a single bike ride up a potential fleet of thousands.
Flyby will use the funds to launch a fleet of smart delivery boxes in Dubai, as well as further scale and develop its technology.
The Digital Out-of-Home market has been steadily growing in the MENA region. Valued at $21.9 billion in 2020, the sector is expected to reach $53.81 billion by 2026, growing at a forecast CAGR 19.7%, according to data by Research and Markets. The region is positioned for significant digital advertising growth largely due to the increased spending on Smart City infrastructure.
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