Arrow Labs, a Dubai-based technology startup focused on enterprise software, announced Thursday that US billionaire venture capitalist Tim Draper had invested in the firm as part of its $5 million Series A fundraise.
Arrow Labs offers an enterprise software-as-a-service product called MIMS which aims to connect front-line workers to machines and facilities via a mobile app and wearables. The company claims MIMS can reduce operating costs by 20 percent, increase staff productivity by 30 percent, business efficiency by 40 percent.
“For many years, investment in critical remote working tools has focused almost exclusively on office-based staff. This has caused front-line workers to become disconnected. This is a global issue, affecting hundreds of millions of people, and a solution is required. Arrow Labs’ technology has really caught my eye,” Draper said in a statement.
The Series A fundraise will be used to accelerate growth in new markets, the company said, with a focus on the US market, along with continued development of the MIMS platform’s machine-learning capabilities.
“Securing such strong financial support and backing from investors such as Tim Draper is transformative for our business. The funds will support our growth, further development of our MIMS platform, and accelerate our journey to connect the 80% of the global workforce that is deskless – and protect their jobs,” Rami Darwish, founder and CEO of Arrow Labs said.
The funding round was also joined by other international venture firms Global Ventures and B&Y Ventures.