Dubai-based powerbank-sharing service, Ray, has acquired the assets of local competitor JetCharge, a significant move to consolidate the UAE’s on-the-go charging market. The deal includes JetCharge’s hardware, location contracts, and team, immediately boosting Ray’s operational footprint across the country.
Quick Facts
- Acquisition adds over 100 JetCharge locations to Ray’s network.
- Ray’s total network now exceeds 250 stations across the UAE.
- The company targets scaling to 2,000 locations by the end of 2026.
A Strategic Play for Market Density
As the UAE’s powerbank-sharing sector matures, location density has become a critical factor for success. By absorbing JetCharge’s established network, Ray gains immediate scale in key Dubai areas without the lead time required to build out new infrastructure. The JetCharge brand will be fully integrated into Ray within the next two months.
“JetCharge’s locations and team give us immediate density in Dubai,” said Igor Kosolap, CEO and co-founder of Ray. “Combined with Ray’s Tap-to-Pay technology and our roadmap to expanding our operations in 2026, we have everything we need to become the leading powerbank-sharing service in the region.”
The Tap-to-Pay Advantage
The acquisition highlights a technology gap in the market. Ray’s platform features Tap-to-Pay functionality, allowing users to rent a powerbank in about 15 seconds using a bank card, Apple Pay, or Google Pay directly at the station. This process eliminates the need for a dedicated app, an internet connection, or even a charged phone, reducing friction for both residents and tourists.
Talgat Rakhimgaliyev, who will move from his role as general director of JetCharge UAE to become Ray’s new chief operating officer, commented on the synergy. “JetCharge’s hardware footprint combined with Ray’s Tap-to-Pay technology is a natural fit. It doubled Ray’s existing network while making the service more accessible for residents and tourists. Both sides win through higher utilisation.”
Fueling Regional Expansion
This acquisition comes on the heels of Ray’s recently announced $1.2 million seed round. The fresh capital and expanded network position the company to pursue its ambitious goal of reaching 2,000 locations by the end of 2026.
With a stronger base in the UAE, Ray plans to scale its operations across the GCC and into other international markets, leveraging its IoT infrastructure and seamless payment platform to capture new growth opportunities.
About Ray
Ray is a Dubai-based company building a powerbank-sharing network for urban environments and hospitality venues. The company provides portable charging stations that allow users to rent and return powerbanks across a distributed network. Built on IoT connectivity, Tap-to-Pay payments, and fast-charging hardware, Ray’s infrastructure delivers app-free charging while fitting into Dubai’s smart city vision.
Source: Zawya
