PHOTO
Dubai, UAE – Arrow Labs, the technology company uniting deskless, frontline workers - welcomes the investment of Draper Associates, the Venture Capital fund founded by renowned American investor Tim Draper, in its US$5 million Series A fundraise.
Draper Associates’ investment is one of the company’s first in a MENA region company, reflecting the company’s excitement at the technology of Arrow Labs. Other prominent investments to date by Draper include Baidu, Hotmail, Skype, Tesla, SpaceX, and Twitter.
Tim Draper, Founder & Managing Partner of Draper Associates, said:
“For many years, investment in critical remote working tools has focused almost exclusively on office based staff. This has caused front-line workers to become disconnected. This is a global issue, affecting hundreds of millions of people, and a solution is required. Arrow Labs’ technology has really caught my eye. They have built the solution the world needs, which is already being used by some of the biggest global brands.
“The start-up ecosystem in the MENA region is very exciting, and Arrow Labs is a unique player there. I’m delighted to make them one of my first investments in the region.”
Arrow Lab’s core product is a platform (MIMS) – an enterprise SaaS software – unifying frontline workers. Accessed by mobile app, web, and wearables – it connects employees/machines/facilities – to deliver flawless work-flow execution. The platform reduces operating costs by 20%, increases staff productivity by 30% and business efficiency by 40%.
Investment proceeds will be used by to accelerate growth into new markets. Specifically, funds will drive further growth in the U.S. market, and enhance development of the MIMS platform’s machine-learning capabilities.
Arrow Labs has experienced high growth in enterprise customer acquisition and geographic coverage, onboarding clients in MENA, Europe and the United States, especially with industry leaders in the telecoms, oil and gas and logistics sectors. Clients include G4S, Linde AG, Dubai Ports World and Bnet.
Arrow Labs MIMS platform will make deskless work simpler, better and more productive for millions of frontline workers who have yet to be empowered with technology. By bringing innovation and Machine Learning capabilities to the front line, MIMS removes the complexity of scheduling, work distribution, recourse management, workflow automation and route optimization in a unique easy to use software tool set.
Rami Darwish, Founder and Chief Executive Officer of Arrow Labs, commented:
“Securing such strong financial support and backing from investors such as Tim Draper is transformative for our business. The funds will support our growth, further development of our MIMS platform, and accelerate our journey to connect the 80% of the global workforce that is deskless – and protect their jobs. We are ideally positioned to rapidly grow, and further expand our presence in the United States, and into South-East Asia.”
Other leading technology investors who participated in the round include international venture capital firm, Global Ventures, and B&Y Ventures.
Noor Sweid, General Partner at Global Ventures, said:
“Rami Darwish and the team at Arrow Labs have been our partners since 2018. From then until now, the company has been a leading player and innovator in its space, addressing a critical and global challenge in workforce management. We are strong supporters of reverse innovation and emerging market founders building cutting-edge technology with both regional and global potential, and Rami is definitely one such entrepreneur. We are thrilled to be a part of the next chapter of Arrow Labs.”
Abdallah Yafi, Managing Partner at B&Y Ventures, commented:
“Most of the innovation globally has been aimed at improving desk and office work resulting in field work being largely overlooked. Arrow Labs solves the disconnect between the deskless workers and the back office and is on a mission to transform the way businesses manage field resources. At Arrow Labs, B&Y is backing a hyper exceptional team - led by Rami Darwish - that we believe can build a category leading business in this space, thanks to an extremely intelligent platform, flawless execution and strong focus on delivering profitable growth.”
© Press Release 2021
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.
