Egyptian startup Tareeqi, an application used to track the bus fleets of schools, universities and institutions in the MENA region without installing any expensive GPS devices, has been acquired by eMushrif, an Oman-based startup specialising in digital transport tracking systems.
Founded by Alfarouk Saleh and Mohamed Monier in 2018, Tareeqi aims to solve the problems that face millions of people daily, and will now be managing the expansion of eMushrif in the Egyptian market.
eMushrif started off as a logistics and transport company, and now leverages Internet of Things (IoT) and artificial intelligence (AI) technology in the corporate and school transport sector. It raised a US$2.3 million Series A funding round last December.
Saleh said he was excited about the deal since eMushrif tries to solve the same problems as Tareeqi.
“Both companies try to make the daily bus trips easier for students, parents, school administrators, and bus drivers. Traditional school bus trips are full of delays and problems, and the hardest thing about them is that they are repeated daily. Millions of people worldwide face those problems daily, which motivates us to work hard to reach more people and make their lives a little bit easier,” he said.
“The expansion of eMushrif in Egypt will help the company in increasing its technical capabilities through building a big tech team in Egypt which is famous for having strong and experienced technical talents. The expansion will also enable eMushrif to access the major business opportunities found in the Markets of North Africa. We like the dream of eMushrif of becoming the leader of the IoT sector in the MENA region, and we’ll do our best to help make this dream come true.”
Tareeqi Adnan Al-Shuaili, CEO of eMushrif, said the launch of operations in Egypt was an “exceptional opportunity” for the company.
“This bold step unlocks our ability to offer our products to various regional sectors looking for innovation and simplicity in their business processes. This acquisition offers us the proximity we need to the North African markets. This acquisition also offers us the unique opportunity of attracting outstanding talents in the technical field to build a team capable of achieving our strategic goals in technical expansion,” he said.