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Newsletter 12/2020

Meet our Members | FENIX

 

Welcome to FENIX!

Jaideep Dhanoa and IQ Sayed, former co-founders of Circ and colleagues at Careem, created Fenix a new micromobility venture focused on the Middle East region, with a vision to unleash urban potential and propel communities forward. Fenix is committed to transforming the way our cities move and ignite impactful commerce.

With the largest pre-launch venture investment in UAE history, Fenix is developing talent, technology and operations excellence tailored for the Middle East. The company delivers dependable, highest-quality rides with custom-made personal light electric vehicles, to make cities easier to navigate and more enjoyable to explore. 

The founders bring substantial mobility experience into the new venture - first meeting as senior executives at Careem where IQ built and scaled the engineering organization, and Jaideep was responsible for growth and strategy. Jaideep then joined Grab as the unicorn’s Global Head of Micromobility and Sayed joined Lyft to lead the Autonomous Driving team in Munich. The pair reunited when they joined Circ as Co-Founders to expand micromobility in Europe and create the category in the Middle East as the first licensed operator in the region. The company successfully exited via acquisition in January of 2020. Fenix is the third mobility venture the founders are working on together.

In the midst of the COVID-19 pandemic, micromobility has emerged as the safest form of shared transportation globally. The personal vehicles offer de facto social distancing: no human interaction, reduce load on crowded public transportation systems, and receive natural sanitization from the sun’s UV rays, heat and humidity. Millions of riders and hundreds of cities around the world have turned to and embraced micromobility during the pandemic as a means to safely restart economic activity. With this context and in addition to comprehensive safety measures, Fenix is introducing the world’s firstmicromobility vehicle with an integrated hand sanitization pack - a simple yet effective innovation that was entirely conceived and implemented locally in the UAE. In addition, all vehicles undergo a deep sanitization while being recharged, before being re-deployed in the city. Every Fenix rider will now have full comfort in knowing that their ride poses no COVID-19 exposure risk.

Fenix’s vehicles are purpose-built for continuous shared use. They put safety first, are sturdier, and are designed to last longer. They have larger wheels, better suspension, longer battery life, the industry’s best braking system, and many other standout features. Every Fenix ride is insured, with personal accident, third-party liability and product liability insurance. Fenix provides clear in-app safety instructions and local guidelines on how to use the vehicles legally and responsibly.

As part of its commitment to operational excellence, Fenix continuously monitors where its vehicles are most needed, rapidly repositioning them in response to consumer demand and municipal authorities’ requirements. Fenix works hard to ensure that its e-scooters are properly parked and is testing incentives for responsible use in and across municipalities. To ensure reliability and maximum availability, Fenix conducts extensive quality control maintenance checks to ensure its fleet of vehicles are safely and reliably available 24 hours a day, seven days a week, all year round.

In November this year FENIX secured a $3.8m first closing of its seed round investment, which was led by Maniv Mobility, the Israel-based venture fund dedicated exclusively to mobility tech. It marks the first investment by an Israeli venture capital fund in UAE-based tech startup since the normalization of relations between Israel and the UAE, and the largest pre-launch venture funding round in the history of the UAE tech ecosystem.

Jaideep Dhanoa, Co-Founder and CEO of Fenix, said “When we started Fenix, we sought the most value-adding investors that could support our mission of unleashing urban potential and propelling communities forward. As a result of the new friendship that has emerged since normalization between the UAE and Israel, we were grateful to meet the team at Maniv Mobility and now benefit from working with some of the most talented and experienced global investors and tech entrepreneurs in the mobility space. It is no secret that Israeli mobility companies have enjoyed global success - Waze and Mobileye are just the tip of the iceberg. We hope this investment is just the start of a cross-pollination of talent, capital and innovation between the nations that can only be an accelerant in the development of a true middle-eastern tech ecosystem that will greatly benefit the region and its people at large.”

Currently FENIX is in use in Abu Dhabi and Ras Al Khaimah and looking to launch in other markets in Q1 of 2021 and we will keep you posted on when they are available on the streets of Dubai!

If you would like to hear more about the Fenix and Maniv Mobility then join the Australian Business Council of Dubai and the Israel-Australia, NZ & Oceania Chamber of Commerce for their inaugural joint webinar on Tuesday, December 15th at the following times: 9:30am IST | 11:30am GST | 6:30pm AEDT

Free to attend by registering HERE

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