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TELECOMS-
du completes 50G broadband tech trial: Telecoms operator du completed the first trial of the 50G passive optical network (PON) in the Emirates, a high-bandwidth network connection that enables “businesses and consumers to harness high-bandwidth, latency-sensitive applications, including 8k-interactive video applications, 3D cloud design, high-graphic/high-quality AI/ML applications,” according to a press release.
STARTUPS-
Crypto investment firm Cypher Capital co-led a USD 2.4 mn investment in German blockchain company bitsCrunch, Wamda reports.BitsCrunch is “a global data analytics firm specializing in multi-chain insights and forensics for NFTs and digital assets,” founded in 2021. The startup is backed by Coinbase Ventures, Animoca Brands, Chainlink, Cypher Capital, Crypto.com Capital, Morningstar Ventures, Shima Capital, among others.
What they said: “We are excited to partner with Vijay and his team at bitsCrunch. They are solving the transparency problem in the NFT space through AI and data analytics, which will further enhance the user experience and trust,” Cypher Capital Chairman Bill Qian said.
LOGISTICS-
TII + Aspire + Maqta Gateway to work together on autonomous tech: Abu Dhabi’s Technology Innovation Institute (TII) and Aspire, the technology program management pillar of the Advanced Technology Research Council (ATRC), will work with AD Ports Group subsidiary Maqta Gateway on a proof-of-concept for autonomous tech, according to a press release. The agreement will see them explore AI and robotics projects across terrestrial, aerial, and marine sectors to create tailored solutions and applications for AD Port’s infrastructure, in a bid to enhance productivity and efficiency while lowering costs.
HEALTHCARE-
The National Multiple Sclerosis Society (NMSS) awarded six research grants for treatment of multiple sclerosis, according to an Abu Dhabi Media Office statement. The grants are backed by Abu Dhabi’s Department of Health, which contributed AED 500k to the initiative.
FINTECH-
#1- Embedded finance platform Abhi has set up its global HQ in Abu Dhabi, with help from the Abu Dhabi Investment Office (ADIO), according to an Abu Dhabi Media Office statement. The Pakistani firm first landed in the emirate last year, joining the global technology ecosystem accelerator Hub71. The company currently services over 500 companies globally with earned wage access, payroll solutions, and SME financing solutions.
#2- Egyptian fintech company Paymob has partnered with Mastercard to encourage SMEs’ usage of digital payments in the region through low-cost solutions, according to a Mastercard press release. The agreement involves expediting solutions like tap on phone, e-commerce gateways, and payment links.
More on Paymob: Founded in 2015, Paymob is a financial technology company specializing in constructing digital infrastructure, with offices spanning the UAE, Egypt, Pakistan, Saudi Arabia, and Oman. The startup secured a USD 50 mn (AED 183 mn) round of series B funding back in 2022.
ENERGY-
Adnoc has launched two hybrid-powered land rigs, featuring a high-capacity battery and engine automation that contribute to a 15% reduction in emissions compared to traditional rigs Wam reports. Adnoc invested USD 327 mn in purchasing 16 land rigs throughout 2023 in a bid to decarbonize its operations. With two rigs currently in use, the remaining fourteen will be integrated into Adnoc’s drilling fleet over this year.
REMEMBER- Adnoc recently increased its budget for decarbonization investment to USD 23 bn, up from its initial USD 15 bn planned investments.
Energy solutions providerDucab India inked a partnership agreement with Emirates NBD to advance its expansion goals and boost both countries’ economies, according to a Media Office statement. Ducab has been actively expanding in India, and recently opened its first office in the country in Bengaluru.
EDUCATION-
The American University of Sharjah (AUS) board has greenlit the launch of five new degree programs in Fall 2024, Sharjah24 reports. The degrees include masters of business analytics, and another in machine learning; and bachelors degrees in chemical and biological engineering, digital construction engineering and management, intelligent systems and mechatronics engineering.
