Ray Secures $1.2M for 2,000 Tap‑to‑Pay Stations in UAE

**TL;DR:** Ray secured $1.2 million in seed funding to install 2,000 tap‑to‑pay powerbank stations across the UAE by the end of the year, with further rollout planned across the Gulf Cooperation Council.

Ray is a Dubai‑based startup that lets users rent portable chargers from stations placed in cafes, malls and other public venues. The service uses tap‑to‑pay technology, so a customer can unlock a powerbank by touching a bank card or using Apple Pay/Google Pay—no app or internet connection is required. Once rented, the powerbank can charge a smartphone from 20% to 80% in about 30 minutes and can be used to recharge a device up to two times before needing to be returned.

The seed round, backed by private investors including Meirambek Abelkasov and Serik Uspanov, co‑founders of JET, gives Ray the capital to scale from its current operations in Dubai and Abu Dhabi to 2,000 locations nationwide. Ray says it is the only powerbank‑sharing service in the GCC that offers tap‑to‑pay, and its stations are linked to global payment and IoT networks that operate in more than 170 countries. Industry data shows the worldwide powerbank‑sharing market was valued at $2.8 billion in 2025 and is forecast to grow at a compound annual rate of 14.7%.

By removing the need for an app, Ray lowers the barrier for spontaneous charging, which could increase usage in high‑traffic venues where consumers prefer quick, contactless transactions. The expansion also positions the company to capture a larger share of a fast‑growing market, potentially pressuring rivals that still rely on app‑based rentals. Investors will likely monitor how quickly the 2,000‑station target is met and whether the tap‑to‑pay model drives higher repeat usage.

What to watch next: Adoption metrics from the new stations, any partnership announcements with retail chains, and whether Ray extends its tap‑to‑pay system to additional GCC markets such as Saudi Arabia and Qatar.