Motery Secures Seed Funding with $8M Valuation
Deal News | Mar 12, 2025 | Aim Group
Motery, a Kuwait-based automotive marketplace, has successfully secured seed funding at a valuation of $8 million. Though the specific financial details were not disclosed, the funding will be leveraged to enhance current offerings, innovate financing solutions, and bolster market share. Co-founded by CEO Abdullah Emad Al Ateeqi and CTO Mohammad Al Abdulsalam, Motery strives to redefine the car buying journey through a comprehensive suite of digital automotive services, ranging from vehicle browsing to financial arrangements. The CEO expressed enthusiasm for the investment, viewing it as pivotal to continuing the company's growth and mission to simplify the car purchasing experience for Kuwaiti consumers.
Sectors
- Automotive
- Financial Services
- Technology
Geography
- Kuwait – Motery is based in Kuwait, and its operations and market focus are primarily within this country.
- Middle East – The firm's activities and investment occur within the broader regional context of the Middle East.
Industry
- Automotive – The automotive industry is relevant to the article as Motery operates as a digital marketplace for car buying and selling.
- Financial Services – Motery plans to develop new financial products and offers flexible payment solutions, which pertains to the financial services sector.
- Technology – The article discusses Motery's digital platform and its role in the innovative transformation of automotive purchasing processes.
Financials
- $8,000,000 – Valuation of Motery during the latest seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Motery | Target Company | Company | Motery is a Kuwait-based digital auto marketplace enhancing the car buying experience. |
| Abdullah Emad Al Ateeqi | Co-founder and CEO | Person | CEO and co-founder of Motery, instrumental in securing seed funding and driving company growth. |
| Mohammad Al Abdulsalam | Co-founder and CTO | Person | CTO and co-founder of Motery, responsible for the technological development of the platform. |