Volt Lines, a Turkey-based startup that vowed to revolutionize employee commutes with its innovative subscription-based transportation service, has raked in $1.28 million in its pre-series A round led by Dubai Angel Investors. With this, the total amount raised by the startup since its launch last year currently stands at about $1.65 million.
The bulk of the newly raised fund — $780,000 to be specific — came from the Dubai Angel Investors whereas the rest of the amount was contributed by Hedef Filo, MEVP, and Wassim Matar. Volt Lines says it wants to use the new fund in its kitty to expand its engineering staff and finalize its plan for MENA expansion.
Reacting to this new and instead encouraging development, Ali Halabi, founder, and CEO of Volt Lines said, “I’m very excited to see Dubai Angel Investors joining our journey and solidifying Volt Lines’ connection to Dubai and the region. Having this incredible network on-board inches Volt Lines closer to a healthy and meaningful MENA launch as we continue to exponentially grow our fortified Turkish business.”
Volt Lines was one of the winners at Tech Mix 2018, a pitching competition for Italian and Middle Eastern startups organized by a collaboration between Roland Berger and Bank Intesa Sanpaolo.
The startup provides a subscription-based transportation service that employees can use to travel to and from their work along designated express lines. As of today, Volt Lines has a fleet of 16-seater mini-buses, with the company planning on expanding its reach and the scope of its intelligent public transportation network.