Dubai-based startup Ray has launched a powerbank-sharing service in the UAE after closing a $1.2 million seed round aimed at accelerating its regional rollout. The funding came primarily from private investors, including Meirambek Abelkasov and Serik Uspanov, who are also known as co-founders of the kick-sharing company JET. Ray said the capital will be used to grow its charging station footprint in the UAE before extending the model to other Gulf markets.
Funding and Launch
The company was founded by Igor Kosolap and Roman Averianov and is focused on providing portable charging access through stations placed in public venues. Customers can rent a powerbank from one location and return it to another point within the same network, creating a flexible model designed for people on the move. Ray is already operating in Dubai and Abu Dhabi and plans to expand its presence rapidly over the coming months.
Management said the business is targeting high-footfall sites such as restaurants, cafes, shopping centres, hospitality venues, and transport hubs. By the end of 2026, the company aims to establish its service in 2,000 locations across the UAE. The rollout is intended to position Ray early in a regional market that remains relatively underdeveloped compared with more mature Asian markets.
Market Opportunity
The company is entering a sector that is gaining momentum globally as smartphones become more deeply embedded in daily transactions, travel, and communication. According to figures cited in the announcement, the global powerbank-sharing market was valued at $2.8 billion in 2025 and is expected to grow at an annual rate of 14.7 percent. While Asia Pacific already accounts for a large share of installed stations and is seen as relatively saturated, the GCC is still at an earlier stage, leaving room for new entrants to build scale.
Ray’s launch strategy is closely tied to Dubai’s demographic and tourism profile, which offers a strong base for frequent device use outside the home or office. The company pointed to the city’s population of 3.8 million, 19.6 million international visitors in 2025, and more than 13,000 food service venues as factors supporting adoption. In practice, those conditions create a natural testing ground for a service aimed at residents, commuters, and tourists who need fast access to charging throughout the day.
Product and Differentiation
Ray is positioning itself around convenience, particularly for users who need power quickly without downloading an app or relying on their remaining battery. The company said its Tap-to-Pay feature allows customers to unlock a powerbank in roughly 15 seconds using a bank card, Apple Pay, or Google Pay directly at the station. That process works without requiring an internet connection or a functioning phone, which Ray sees as a differentiating factor in a service category often tied to app-only access.
The startup is still offering a conventional app-based flow, but it says removing app dependency could improve conversion and overall station usage. Citing supplier data, the company said Tap-to-Pay systems can generate up to four times more rentals and revenue than app-only setups. Ray also stated that it is currently the only powerbank-sharing provider in the GCC offering this function, while its fast-charging units can raise a phone from 20 percent to 80 percent in about 30 minutes and provide enough capacity for up to two full recharges.
Expansion Strategy
Beyond the hardware layer, Ray said it has built its platform on international payment acquiring and IoT connectivity that operates across more than 170 countries. That infrastructure is intended to support reliable station connectivity in the UAE while laying the groundwork for eventual cross-border growth. In the longer term, the company plans to use its UAE launch as a springboard for broader GCC expansion and, potentially, entry into additional international markets.
Ray’s launch reflects a broader push to turn phone charging into an on-demand urban utility rather than an occasional convenience. With fresh funding, an early operating presence in Dubai and Abu Dhabi, and a product built around fast, app-free access, the startup is betting that the GCC is ready for a scaled powerbank-sharing network. Its next challenge will be proving that rapid deployment across hospitality and retail locations can translate into sustained user adoption and a defensible regional position.