Derq, the Dubai-based MIT spin-off specializes in using AI to prevent road accidents. The startup recently graduated from the TechStars Mobility Accelerator and raised over US$ 1.5 million in seed funding. Derq would use the fresh capital injection to hire more talent and open an office in Detroit. It would also invest part of the money to improve its technology.
Derq’s patented technology includes integration of its product into existing and future vehicle to vehicle and vehicle to infrastructure communication. Its application layer sits between the two communication layers and predicts traffic incidents. It notifies the car driver for erratic road users nearby. In the future, autonomous vehicles would also be able to use the Derq’s technology.
Although the company is opening an office in Detroit, it would also expand its presence in Dubai. Derq has already signed an agreement with the Smart Dubai Office to trial the technology. The aim is to prove its feasibility and improve the road safety. In addition to that, the corporate headquarters remain in Dubai. Following the recent capital raise, more people will join the local office, confirmed the CEO.
Dr. Georges Aoude, MIT graduate in Aerospace Engineering, founder, and CEO of Derq has expressed his gratitude to the authorities in Dubai for their cooperation. Among the main priorities of Dubai Government is to reduce road accidents in the Emirate significantly by 2021, which is also in line with the corporate goals of Derq. In addition to that, by 2030, Dubai is planning to make 25% of the transportation driverless. Derq would be an integral part of this plan.
The vehicle communication sector has become highly competitive in the recent years. Many new entrants joined the scene trying to serve as essential communication layers. Derq has the advantage to sit as a vantage point by working with both V2V and V2I. The most significant challenge ahead of Derq would be to sell its product to government regulators, automakers, and auto suppliers.