BlinkApp, an Egyptian mobility risk assessment startup, has raised a six-figure Pre-Seed round, led by investors located in UAE and KSA.
Founded in 2017 by Wael Noufal and Ahmed El-Mahdy, BlinkApp is a mobile application that uses technology to save lives by monitoring drivers’ behaviors and sending out notifications to emergency services and family members in case of road accidents.
Whether you are an insurance company, a fleet owner, or simply an individual who wants to be safe on the road, BlinkApp is here for you. The startup captures and analyzes thousands of miles of data to evaluate drivers’ behavior with the goal of improving it. Also, BlinkApp uses the smartphone’s sensors and AI technology to monitor drivers’ behavior, detect collisions, and generate insightful reports.
Noufal, the co-founder and CEO of BlinkApp, said that the real edge of the startup 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, the startup offers customers very competitive subscription fees while enjoying high quality and performance.
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 smartphone and AI technology. They are eagerly anticipating announcing the campaign together within weeks.
By 2025, the startup 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 of $19.8M in 2025.
BlinkApp already raised two zero-equity grants before, with around $210k, from ITIDA through the ITAC program to develop research incorporation with Egypt Japan University for science and technology (EJUST).
