Dubai-based automotive marketplace Seez has raised $5 million U.S. in a pre-Series B funding round.
The car aggregator platform founded by former investment banker Tarek Kabrit and his nephew, Andrew Kabrit, seeks to digitise the car buying experience.
The new funding round, which was twice oversubscribed, was led by venture capital firm Nuwa Capital. Other investors included Crealize from Germany, BY Venture Partners and Omran Group.
In February 2020, Seez raised $6 million U.S. in series A funding which it said was five times oversubscribed and which it planned to use to expand into other markets, as well as launch several new verticals.
Seez said that the new round brought its total funding to date to $14.2 million U.S.
The company was initially launched in 2016 as an AI-based image recognition app for cars. However, the founders soon developed it into a car listings aggregator app in five markets: UAE, Kuwait, Pakistan, Saudi Arabia and South Africa.
Seez offers several car-buying services via its app, including a search engine, pricing suggestions and an AI-based negotiation tool.
Last year the company signed a partnership with Hessel, the largest Mercedes dealer in Denmark for new and used cars.