Dubai-based powerbank-sharing company Ray has acquired assets from JetCharge, a UAE competitor with more than 100 active locations, in a move that strengthens its position in the city’s fast-developing shared charging market. The transaction includes JetCharge charging devices, operational contracts, and its local team, with the acquired network expected to be fully rebranded under Ray within two months of closing. The deal gives Ray a broader physical footprint at a time when demand for convenient mobile charging is growing across hospitality, retail, and high-traffic urban venues.
Ray Expands Its Dubai Network
Following the acquisition, Ray’s network now exceeds 250 powerbank-sharing stations across the UAE, making it one of the larger operators in Dubai’s portable charging segment. The company said the addition of JetCharge’s locations provides immediate density in key parts of the city, helping users access and return powerbanks across a wider network. This network effect is central to the sharing model, where convenience depends on having enough stations distributed across restaurants, cafés, malls, and other public venues.
Strategic Move After Seed Funding
The acquisition follows Ray’s recent $1.2 million seed round, which was raised primarily from private investors, including Meirambek Abelkasov and Serik Uspanov, co-founders of the kick-sharing company JET. Ray has said the new funding will support expansion across the UAE and wider GCC, with a target of reaching 2,000 locations by the end of 2026. The timing suggests the company is moving quickly from market entry to consolidation, using fresh capital to accelerate deployment and absorb established local capacity.
Leadership and Operational Integration
As part of the transaction, Talgat Rakhimgaliyev, JetCharge’s former UAE general manager, has joined Ray as chief operating officer. His appointment brings market-specific operating experience into Ray’s management team as the company integrates JetCharge’s assets and expands its venue partnerships. For Ray, the move is not only about adding devices, but also about retaining local knowledge, relationships, and execution capability in a market where placement and uptime are critical.
Technology as a Differentiator
Ray’s proposition is built around app-free access, allowing users to rent a powerbank through Tap-to-Pay by using a bank card, Apple Pay, or Google Pay directly at the station. The company says this process can take around 15 seconds and removes the need for users to download an app, maintain an internet connection, or rely on a charged phone to begin a rental. Its stations also support the standard app-based rental flow, giving customers multiple payment and access options depending on preference and situation.
Market Context
Dubai offers favorable conditions for powerbank-sharing services because of its dense hospitality sector, large resident population, and strong tourism flows. Ray’s earlier launch materials pointed to Dubai’s 3.8 million residents, 19.6 million international visitors in 2025, and more than 13,000 food service venues as indicators of the market opportunity. As smartphones become essential for payments, transport, communication, navigation, and bookings, public access to charging is increasingly shifting from a convenience feature to an urban infrastructure service.
Ray’s acquisition of JetCharge marks a notable consolidation step in Dubai’s emerging powerbank-sharing sector and gives the company a stronger base for its regional ambitions. By combining JetCharge’s installed network and team with Ray’s payment technology and expansion strategy, the company is positioning itself to lead a category that remains relatively early in the GCC compared with more saturated Asian markets. The next test will be whether Ray can scale from hundreds to thousands of locations while maintaining service reliability, venue adoption, and a frictionless user experience.