Dubai – Sharikat Mubasher: Derq, the leading provider of real-time AI-powered intelligent transportation system (ITS) solutions, announced securing strategic investments from e& capital; the venture capital arm of e&, a global technology group headquartered in the UAE; and AT&T Ventures, the venture capital arm of AT&T, one of the largest telecommunications companies in the world.
The fresh capital from both sides will be used to fuel Derq’s expansion activities in the US, GCC, and beyond, and accelerate the company’s investments in product development and growing its intellectual property (IP) portfolio, according to Derq’s press release.
On this occasion, Kushal Shah, Managing Director of e& capital stated: “Derq is a global innovator, and our investment is a testament to our commitment to supporting visionary businesses that move the world forward. By backing Derq, we are not only investing in a company at the forefront of intelligent transportation technology but also contributing to the development of innovative solutions that will benefit communities globally.”
Vikram Taneja, Head of AT&T Ventures added: “We’re excited to make this strategic investment in Derq, a significant innovator in intelligent transportation solutions. Their solutions are transforming how cities and industries approach mobility, safety, and efficiency.”
Derq’s offerings address the immediate safety and efficiency needs of today’s roads and lay the groundwork for a safer and more efficient connected transportation ecosystem in the future. By integrating state-of-the-art AI and IoT with connected infrastructure and sensing technologies, Derq’s platform provides road owners and operators with critical road safety insights, innovative traffic control capabilities, and advanced connected vehicle applications.
Georges Aoude, co-founder and CEO of Derq said: “We are thrilled to have the support of e& and AT&T, two global telecommunication and technology leaders. These strategic relationships not only validate the progress made to date but empower us to scale our operations and enhance our ability to deliver next-generation intelligent transportation solutions to customers around the world.”
To date, Derq has more than 25 active deployments in 16 states across the United States as well as several international deployments.