Press release:
Cairo-based mobility risk assessment startup, BlinkApp, has successfully closed a six-figure pre-seed funding round led by investors from the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA). Founded in 2017 by Wael Noufal and Professor Ahmed El-Mahdy, BlinkApp leverages artificial intelligence (AI) and smartphone technology to enhance driver behavior monitoring, expedite roadside assistance, and promote safer roads for all.
BlinkApp’s innovative platform utilizes smartphone sensors and AI to monitor driver behavior, detect collisions, and generate insightful reports. This technology functions as a standalone application or integrates seamlessly with other apps. Notably, BlinkApp employs edge computing for data processing, enhancing efficiency and reducing costs for customers. The company offers competitive subscription fees without compromising on quality or performance.
In a significant development, BlinkApp has partnered with gig-Egypt, one of Egypt’s leading insurance companies, marking gig-Egypt as the first in the country to adopt smartphone and AI technology for enhanced insurance services. The collaboration aims to launch a joint campaign in the coming weeks, focusing on utilizing BlinkApp’s technology to improve risk management, optimize claims processes, and deter fraudulent claims.
Looking ahead, BlinkApp has set ambitious goals for 2025, aiming to onboard six million users and achieve $5 million in Gross Merchandise Value (GMV) transactions from B2C and B2B sectors, including individuals, insurance companies, and fleet owners. The company projects revenues of $19.8 million by that time.
BlinkApp’s journey began following a personal experience of Mr. Noufal, who envisioned a solution to prevent others from facing similar challenges after a car accident in 2013. This vision led to extensive research and development, culminating in the creation of BlinkApp. The company received support from the Information Technology Industry Development Agency (ITIDA) through the Information Technology Academia Collaboration (ITAC) program, securing two zero-equity grants totaling approximately $210,000. These funds facilitated collaboration with the Egypt-Japan University of Science and Technology (EJUST) to develop and refine BlinkApp’s technology, resulting in the filing of two patents.
BlinkApp’s mission is to harness cutting-edge technology to save lives and reduce the impact of risky driving behaviors on vehicles and accidents. Whether serving insurance companies, fleet owners, or individual drivers seeking enhanced road safety, BlinkApp is committed to delivering innovative solutions that make a tangible difference.
