Press release:
Cairo-based mobility risk assessment startup, BlinkApp, has raised a six-figure Pre-Seed round, led by investors located in UAE and KSA.
BlinkApp aspire to have its technology installed on smartphones with the main vision of achieving better general driving behavior, faster roadside assistance and safer roads for everyone.
Mr. Noufal, the co-founder and CEO of BlinkApp, said that the real edge of BlinkApp is that it’s a full platform that can work as stand-alone or integrate with other apps. Not only that, but also most of the processing is based on edge computing, not cloud computing, which saves a lot of time and money for BlinkApp customers. In addition, BlinkApp offers the customers very competitive subscription fees while enjoying high quality and performance.
Mr. Noufal said that they already contracted with one of the biggest insurance companies in Egypt, gig-Egypt, which makes it the first Egyptian insurance company to utilize the smartphone and AI technology. They are eagerly anticipating to announce the campaign together within weeks.
By 2025, BlinkApp aims to onboard 6 million users and reach $5 million GMV transactions from B2C & B2B sectors excluding individuals, insurance companies and fleet owners. BlinkApp expected revenue $19.8M in 2025.
Founded in 2017 by Mr. Noufal and Prof. El-Mahdy, BlinkApp brought science, technology, and business together to bring a cutting-edge mobile solution to life. Based on artificial intelligent, BlinkApp saves people’s lives and minimizes the driving behavior risk impact on vehicle and accidents. Whether the customers are an insurance company, a fleet owner or simply an individual who wants to be safe on the road, BlinkApp will support them. BlinkApp captures and analyzes thousands of miles of data, using smartphone’s sensors and AI technology, to monitor drivers’ behavior, detect collisions, and generate insightful reports to guide and assist customers.
In 2017, BlinkApp was selected as a first-place winner among the 79 finalists who competed for the ideas track in MIT-Pan Arab competition that was held in Manamah, Bahrain, where it was awarded $15,000.
The story started when Mr. Noufal had a car accident in Egypt by the end of 2013. At that critical moment, he couldn’t find his mobile and even when he did, he didn’t remember any emergency numbers to ask for help. That’s when it all started. Mr. Noufal initiated discussions with his partner Prof. Ahmed El-Mahdy about how to protect others from living this fearful experience. Triggered by the motivation to help others, Mr. Noufal started his research that resulted in BlinkApp. Through ITIDA’s (Information Technology Industry Development Agency) research fund and with the help of a highly skilled team, BlinkApp came to light. The team succeeded in developing a new methodology for accident and driver behavior detection using smartphones – a technology that can literally save lives!
BlinkApp already raised two zero-equity grants before, with around $210k, from ITIDA through ITAC program to develop research in corporation with Egypt Japan University for science and technology (EJUST). BlinkApp and EJUST registered and filed two patents.
