Business
ADQ-Backed Further Ventures Launches $200m Fund For Start-Ups
September 27, 2022
September 10, 2024
ADQ, an investment and holding company based in Abu Dhabi, has launched Q Mobility to improve transportation services through innovative mobility solutions. The initiative emphasizes sustainable and integrated approaches that bolster the growth of the Emirate.
Q Mobility will manage, operate, and develop the Abu Dhabi toll system “DARB” and the parking system “Mawaqif,” all under the regulatory authority of the Department of Municipalities and Transport, through the Integrated Transport Centre (Abu Dhabi Mobility).
The goal of Q Mobility is to deliver efficient, reliable, and convenient solutions by leveraging cutting-edge technologies. This new company is part of ADQ’s broader transport and logistics portfolio, which includes Abu Dhabi Airports, AD Ports Group, Etihad Airways, Wizz Air Abu Dhabi, and Etihad Rail.
Since its launch in 2021, DARB has operated eight toll gates located at key bridges throughout Abu Dhabi. Moreover, the Mawaqif system, initiated in 2009, offers drivers organized, fully digital public parking options in the city.
Furthermore, by integrating assets across the entire value chain, ADQ aims to cultivate cluster ecosystems that enhance the growth of its portfolio companies, leveraging their collective strengths to create lasting value.
MiddleEast Economy
