Tuesday 5 March 2024

The signing ceremony

Lumi and MachinesTalk sign $7.5m technology deal

RIYADH, November 28, 2023

To revolutionise vehicle sharing and enable digital transformation, Lumi car rental company, has signed a five-year SR28 million ($7.5 million) agreement with MachinesTalk, a leading IoT solutions provider in Saudi Arabia. 
The agreement enables the upgrade of fleet management through technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) in collaboration with the satellite supported car sharing platform, AnyCar. 
AnyCar will transform Lumi’s fleet into a digital sharing ecosystem. This ensures complete control over vehicles and provides an enhanced self-service experience for "Lumi" customers. Additionally, it guarantees maximum utilisation of vehicles, enhances operational efficiency, and improves the overall user experience. 
Vehicle movement
The collaboration enables the analysis of security situations and provides accurate information on vehicle movement. These capabilities have been strategically designed to improve processes and ensure seamless operations.
Lumi provides individuals, companies, and governments with access to some of the latest transportation and leasing offerings in Saudi Arabia backed by state-of-the-art digital channels.
Syed Azfar Shakeel, CEO of Lumi, said: “With digital technology revolutionising every industry, including car rentals, we are committed to leveraging advanced solutions that add excellent value for our stakeholders. The new technology agreement will draw on machine learning and the Internet of Things to predict, identity and monitor trends to enable our customers achieve higher levels of cost efficiency in addition to increased productivity across our operations.”
Eng Nawaaf AlShalani, CEO of MachinesTalk, commented: "We're delighted to have signed this agreement with Lumi, which aims to promote IoT and AI in the transportation sector, facilitate digital transformation, enhance traffic safety, maximise vehicle utilisation by analysing real-time data and provide valuable services to customers. This partnership represents a significant step towards sustainable digital mobility.”--TradeArabia News Service


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