Ray Secures $1.2M Seed Fund to Roll Out Tap-to-Pay Powerbank Network Across UAE

TL;DR Ray, a Dubai-based powerbank-sharing company, secured $1.2 million in seed funding. This investment will expand its Tap-to-Pay portable charging network across the United Arab Emirates and the wider Gulf Cooperation Council region.

**Context** The increasing reliance on smartphones underscores a consistent demand for mobile power solutions. Powerbank-sharing services offer a practical response, providing temporary battery access for users on the go. Ray enters this expanding market with a focus on immediate, app-free rental accessibility.

**Key Facts** The $1.2 million seed funding round will directly support Ray's operational expansion initiatives. The company, founded by Igor Kosolap and Roman Averianov, currently operates in Dubai and Abu Dhabi. Ray targets an expansion to 2,000 locations across the UAE by the close of the year, alongside further deployment into other GCC markets. Ray’s primary innovation is its Tap-to-Pay technology. This system enables users to rent a powerbank within seconds by tapping a bank card or using Apple Pay or Google Pay directly at the charging station. The design removes common barriers by requiring neither an application download nor an internet connection for rental. Stations provide fast-charging powerbanks, capable of recharging a smartphone from 20% to 80% in approximately 30 minutes, and can fully recharge devices up to two times. Ray states it is currently the only powerbank-sharing service in the GCC offering this integrated Tap-to-Pay functionality.

**What It Means** This capital injection positions Ray for substantial growth within a burgeoning sector. The global powerbank-sharing market registered a value of $2.8 billion in 2025. It is projected to sustain an annual growth rate of 14.7%. Ray’s simplified Tap-to-Pay system directly addresses a common friction point in many sharing economies by eliminating the need for app installation and internet access. This approach may enhance user adoption and broaden the service's appeal. The strategic expansion across the UAE and GCC targets a region with high smartphone penetration and a strong demand for convenient, digital services. The market will monitor Ray's deployment rate and its influence on the portable charging infrastructure landscape in the coming months.