Neo Mobility, which is planning to operate 5,000 electric vehicles (EVs) in the UAE, has secured US$10 million in funds in a seed round. As per a statement, the company, based in Jumeirah Lakes Towers, Dubai, raised the funds from green asset financing platform Delta Corp Holdings, global logistics and distribution company, Pyse Sustainability Fund, and other investors. It will initially carry out deliveries for food aggregators and e-commerce platforms and enter the ride hailing sector with a fleet of Teslas and charging infrastructure across the UAE with to expand them to the GCC at a later date.
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