Dubai – Sharikat Mubasher: UAE-based powerbank-sharing startup Ray announced closing $1.2 million in seed funding from a group of private investors, including Meirambek Abelkasov and Serik Uspanov, co-founders of Kazakhstan’s kick-sharing platform JET.

As per a recent press release, the fresh capital will support the rollout of Ray’s Tap-to-Pay rental system across the UAE and its broader expansion into GCC markets.

Founded by Igor Kosolap and Roman Averianov, Ray plans to scale its network of charging stations to 2,000 locations across high-traffic venues in the UAE by the end of 2026. The company is targeting sectors such as hospitality, universities, transport hubs, and healthcare facilities, where demand for on-the-go charging remains high.

Ray’s Tap-to-Pay feature allows users to rent a powerbank in under 15 seconds without downloading an app or registering—addressing a key friction point in existing solutions. The company believes this approach can significantly boost usage and revenue per station, with industry estimates suggesting up to a fourfold increase compared to app-based systems.

Currently operating in Dubai and Abu Dhabi, Ray is positioning itself to capture a growing yet fragmented market. Its stations are equipped with fast-charging powerbanks and supported by global IoT connectivity and international payment systems, enabling seamless transactions and paving the way for international expansion.