Derq, the leading provider of real-time AI-powered intelligent transportation system (ITS) solutions, announced strategic investments from e& capital; the venture capital arm of e&, a global technology group headquartered in the UAE; and AT&T Ventures, the venture capital arm of AT&T, one of the largest telecommunications companies in the world.
The investments from e& capital and AT&T Ventures will be used to expand Derq’s activities in the US, GCC, and beyond, and accelerate the company’s investments in product development and growing its intellectual property (IP) portfolio.
“Derq is a global innovator, and our investment is a testament to our commitment to supporting visionary businesses that move the world forward. By backing Derq, we are not only investing in
a company at the forefront of intelligent transportation technology but also contributing to the development of innovative solutions that will benefit communities globally,” said Kushal Shah, Managing Director of e& capital. “We believe in Derq’s vision of creating safer and smarter road networks. Their AI-powered ITS solutions are perfectly aligned with e& capital’s strategic focus on investing in companies that are disrupting industries through emerging technologies like AI, connectivity, and IoT.”
“We’re excited to make this strategic investment in Derq, a significant innovator in intelligent transportation solutions. Their solutions are transforming how cities and industries approach mobility, safety and efficiency,” said Vikram Taneja, Head of AT&T Ventures. “We look forward to collaborating with their team to drive forward innovations that will shape smarter, more connected infrastructure.”
Derq’s offerings address the immediate safety and efficiency needs of today’s roads and lays the groundwork for a safer and more efficient connected transportation ecosystem in the future. By integrating state-of-the-art AI and IoT with connected infrastructure and sensing technologies, Derq’s platform provides road owners and operators with critical road safety insights, innovative traffic control capabilities, and advanced connected vehicles applications.
“We are thrilled to have the support of e& and AT&T, two global telecommunication and technology leaders,” said Dr. Georges Aoude, co-founder and CEO of Derq. “These strategic relationships not only validate the progress made to date but empower us to scale our operations and enhance our ability to deliver next-generation intelligent transportation solutions to customers around the world.”
To date, Derq has more than 25 active deployments in 16 states across the United States as well as several international deployments. The U.S. Department of Transportation has announced Derq as a winner of the agency’s Intersection Safety Challenge as well as was named Derq among its Allies in Action as Derq joins the country’s National Roadway Safety Strategy (NRSS) and U.S Secretary of Transportation Pete Buttigieg’s call to action to reverse the spike in crashes and traffic-related fatality rates.
“We have bold plans to harness digital infrastructure and usher in a future where our roads are safer and more efficient,” said Aoude. “We are well-positioned to continue leading this charge and develop and deploy intelligent transportation solutions at scale.”
Source: Press Release