Following the success of the initial cooperation, Tawazun Economic Commission (Tawazun)’s Investment Sector Strategic Development Fund (SDF) acquired another 20% of Marakeb Technologies’ shares and increased the shares of its locally established company to 50%. company.
In 2019, SDF is committed to the development of the UAE’s defense and security industry and the country’s GDP, and announced a 30% investment in Marakeb Technologies because it sees the potential of its patented autonomous systems and capabilities.
Marakeb Technologies and SDF will be jointly unveiled at the Tawazun booth at the Dubai Air Show from November 14th to 18th, 2021.
“Our further investment in Marakeb hopes to achieve further improvements in many areas, such as stronger manufacturing and R&D capabilities, broader market coverage and networks, and reiterate that we support UAEization by acquiring local talent.” Strategic development Said Abdullah Nasser Al Jaabari, managing director and chief executive officer of the fund.
He added that the technology owned by Al Marakeb was one of the main reasons for the fund’s decision to increase investment.
SDF has high hopes for Marakeb Technologies, an emerging and fast-growing UAE company that provides products based on advanced technologies that will help achieve the goals and objectives of the fund and the UAE’s strategic technology sector.
“When working with SDF, expanded support and funding promoted our research capabilities and performance. Therefore, our autonomous system has evolved from a maritime application to a platform-agnostic system, which has been applied to multiple air, ground and offshore companies Middle East and Europe,” said Marakeb Technologies CEO Basel Schheeber.
Marakeb Technologies first demonstrated their autonomous capabilities in 2014, demonstrating an unmanned surface vessel [USV]Since then, they have developed and applied for a patent for the modular autonomous conversion equipment MAP Pro, which can be integrated into any marine vessel. Recognizing their potential to develop technologies that can compete on a global scale, and their competitive advantages in cost-effective solutions and customizable applications, SDF acquired shares in the company and achieved a series of successes .
