The UAE-based eco-friendly mobility startup, Wize, is set to expand into Saudi Arabia after successfully closing a substantial pre-seed funding round. Wize, founded in 2022 by Alexander Lemzakov, aims to address the challenges of carbon emissions and fuel consumption in the business-to-business sector by providing sustainable solutions for last-mile delivery across the region.
During an interview, Lemzakov revealed Wize’s roadmap, stating that the company plans to be fully operational in Saudi Arabia by 2024. The expansion into the Saudi market aligns with Wize’s vision for sustainable and efficient delivery services. Lemzakov emphasized that Wize’s electric transportation solutions can offset last-mile emissions and fuel costs, with reported monthly cost reductions of 30 percent.
Wize offers a range of sustainability-focused services, including an electric motorcycle marketplace, a subscription-based platform for managing electric vehicle fleets, and battery-as-a-service and battery swapping solutions. To enhance its entry into the Saudi market, Wize has established strategic partnerships with third-party logistics providers and last-mile delivery specialists.
Wize’s fleet of electric motorcycles not only reduces environmental impact but also provides a safer mode of transportation compared to traditional delivery vehicles. By leveraging innovative technology, Wize can implement speed restrictions in specific areas to prioritize pedestrian safety while maintaining efficient delivery speeds on major highways. The company strategically positions battery swapping stations within warehouses and dark stores to reduce delivery time and downtime, ensuring prompt and efficient deliveries across the city.
Wize has also initiated discussions with the Saudi government to improve delivery services and promote the adoption of electric vehicles. Lemzakov highlighted the alignment between Wize’s commitment to reducing environmental impact and the Saudi government’s emphasis on environmentally friendly transportation.
As part of its electric fleet division, Wize Power, the company plans to introduce a network of battery-swapping stations in Saudi Arabia and the UAE. These stations will enable drivers to quickly exchange batteries for fully charged ones, significantly reducing downtime. Wize Power has also developed the Battery Swap App, a user-friendly mobile application that allows EV drivers to locate and reserve batteries in advance.
With $16 million secured in a pre-seed funding round, Wize is financially well-equipped to accelerate its expansion efforts, with a focus on Saudi Arabia. The company remains open to exploring further funding opportunities. Wize’s revenue streams include the sales of electric motorcycles, a rental and subscription platform for businesses, battery-as-a-service with swapping stations, and a cloud-based fleet management solution.
Wize’s success is measured by its growing number of partnerships and the increasing demand for sustainable solutions in the last-mile delivery sector. The company recently formed a long-term partnership with Motoboy, a sustainable logistics company, and disclosed that a major online food delivery service in the region is currently trialing Wize’s services.
Lemzakov’s motivation for founding Wize stemmed from the expanding online food delivery market in Saudi Arabia and the pressing issue of carbon emissions. He expressed a desire to create meaningful impact in the region and empower local businesses to achieve sustainable growth.