BlinkApp, an Egypt-based mobility risk help firm, has secured a six-figure pre-Seed round sponsored by investors from the United Arab Emirates and Saudi Arabia.
BlinkApp has already received $210,000 in equity-free financing from ITIDA under the ITAC program to create a research partnership with Egypt’s Japan University of Science and Technology (EJUST). Two patents were registered and filed by BlinkApp and EJUST.
By 2025, BlinkApp hopes to have onboarded six million users and transacted $5mn in gross merchandise value (GMV) in the B2C and B2B sectors, excluding individuals, insurance firms, and fleet owners. In 2025, BlinkApp intends to generate $19.8mn in sales.
Read also: Egyptian e-commerce startup, Efreshli, lands S$550k to scale its operations
Mr. Noufal, the co-founder, stated that they had already signed a contract with gig-Egypt, one of Egypt’s largest insurance firms, making it the first Egyptian insurance company to use a smartphone and AI technologies. They’re looking forward to announcing the campaign together in the coming weeks.
What You Need To Know About BlinkApp
BlinkApp was founded in 2017 by Mr. Noufal and Prof. Ahmed El-Mahdy to combine science, technology, and business to create a cutting-edge mobile solution. BlinkApp, which is based on artificial intelligence, saves lives and reduces the impact of risky driving behavior on vehicles and accidents. BlinkApp will support its customers, whether they are an insurance company, a fleet owner, or simply a person who wants to be safe on the road. BlinkApp monitors drivers’ behavior, detect crashes and generates insightful reports to guide and support customers by capturing and analyzing thousands of kilometers of data using smartphone sensors and AI technologies.
By the end of 2013, Mr. Noufal experienced an automobile accident in Egypt, which started the story. He couldn’t find his phone at that crucial moment, and even when he did, he couldn’t recall any emergency numbers to call for assistance. That’s how it all began. Mr. Noufal and his partner, Prof. Ahmed El-Mahdy, began talking about how to safeguard others from having to go through this terrifying experience. Mr. Noufal began his research, which led to the creation of BlinkApp because he felt compelled to help others. BlinkApp was created with the support of ITIDA’s (Information Technology Industry Development Agency) research budget and a highly trained staff.
BlinkApp was named the first-place winner among the 79 competitors who competed for the ideas track at the MIT-Pan Arab competition in Manamah, Bahrain, in 2017, and received a cash prize of $15k.
BlinkApp wants its technology to be loaded on cellphones with the goal of improving overall driving behavior, providing speedier roadside help, and making roads safer for everyone.
The major advantage of BlinkApp, according to Wael Noufal, co-founder and CEO, is that it’s a whole platform that can act as a stand-alone app or integrate with other apps. Not only that but the majority of the processing is done on the edge rather than in the cloud, saving BlinkApp customers a lot of time and money. Furthermore, BlinkApp provides clients with very low subscription fees while maintaining good quality and performance.
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