UAE-based Derq secures $500K Pre-Series A investment

Derq a Detroit and Dubai-based startup, has finalized a $500K investment from Wadi Makkah Ventures as part of a Pre-Series A round that included several other global tech investors. The investment, made in December 2020, brings the total funds raised by the company to nearly $6M to date. […] Dr. Georges Aoude, CEO of Derq said “Led by the Vision 2030, the Saudi market is gearing up for an unprecedented growth centered around transforming its regions into some of the top-most livable cities in the world. We are excited to be contributing through our cutting-edge AI solutions to improve road safety and mobility in the region of Makkah and across the Kingdom. We also look forward to bringing our smart infrastructure solutions to smart cities across the Kingdom and enabling safe autonomous vehicle deployments at scale.”