logo
RIIG Expands Presence in Middle East With New Round of Funding

RIIG Expands Presence in Middle East With New Round of Funding

Business Wire19-05-2025
DUBAI, United Arab Emirates & CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--RIIG, a risk intelligence and cybersecurity solutions provider, is pleased to announce it has closed on a significant round of funding from investors in the United Arab Emirates (UAE). This new funding will help propel the company's growth primarily within the healthcare industry.
Investors recognize RIIG - HOOTL's product as a uniquely innovative solution in the health tech space, particularly for insurance verification and claims adjudication—and they're eager to capitalize on these new technologies.
Share
This capital raised was secured during the leadership's visit to Dubai in the UAE and is part of the company's broader rebranding initiative—transitioning from RIIG, a provider of AI-powered risk intelligence and cybersecurity solutions, to HOOTL (Humans Out of the Loop), a platform focused on health tech and insurance automation. Building on its deep expertise in national security-grade AI systems, HOOTL is accelerating development of AI-driven tools to tackle the most complex challenges in healthcare insurance, while also expanding into other mission-critical domains.
'We are greatly appreciative of this new round of funding and look forward to expanding our partnerships in the UAE,' says Denver Riggleman, CEO at RIIG – HOOTL. 'Investors recognize our product as a uniquely innovative solution in the health tech space, particularly for insurance verification and claims adjudication—and they're eager to capitalize on these new technologies.'
In addition, RIIG – HOOTL plans to open an office in UAE to further deepen long-term partnerships across public, private, and academic sectors in the region.
The UAE's forward-looking governance, commitment to digital transformation, and ability to rapidly accommodate innovation have created one of the most compelling environments globally for technology-driven companies, making the UAE an ideal partner for RIIG - HOOTL's continued growth and impact.
During the visit, RIIG - HOOTL's leadership also held high-level discussions with the leadership of one of the Emirates along with one of the region's most prominent technology groups. These conversations further reinforced RIIG - HOOTL's alignment with the UAE's national priorities in artificial intelligence, healthcare innovation, and digital infrastructure—and opened promising pathways for deeper strategic collaboration.
This investment comes on the heels of the U.S. Administration's visit to UAE as it continues to streamline investment pathways within the Middle East region, creating additional opportunities for U.S.-based companies.
About RIIG
Riggleman Information & Intelligence Group (RIIG) is dedicated to the advancement of organizational cybersecurity resilience and advanced threat detection. From real-time analytics to enhanced threat detection, risk management, and regulatory insights, RIIG's AI-powered solutions are designed to meet the unique security needs of businesses and organizations across all major industries around the world. To learn more about RIIG and its solutions, visit https://www.riigtech.com/ or www.hootl.com.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Santos extends exclusivity for XRG Consortium takeover talks
Santos extends exclusivity for XRG Consortium takeover talks

Yahoo

time11-08-2025

  • Yahoo

Santos extends exclusivity for XRG Consortium takeover talks

Santos has extended its exclusivity period with the XRG Consortium as discussions continue over a proposed $18.7bn (A$28.74bn) acquisition. In a statement, the Australian gas company said the consortium, led by XRG, a subsidiary of Abu Dhabi National Oil Company, along with Abu Dhabi Development Holding Company and Carlyle, has nearly completed due diligence under the process and exclusivity deed signed on 27 June 2025. The XRG Consortium has not identified any issues that would cause it to withdraw its non-binding indicative proposal, Santos said. It has reaffirmed its commitment to completing due diligence promptly and negotiating a binding agreement. Consequently, the consortium requested a two-week extension to the due diligence and exclusivity period. Santos has agreed to extend the period until 22 August 2025 to allow the consortium to finalise its review and advance a scheme implementation agreement. Exclusivity restrictions outlined in Santos' 27 June announcement will remain in place during the extension. The fiduciary exception, permitting Santos to consider potentially superior proposals from competing bidders, has been in effect since 25 July and will continue throughout the extended period. Santos operates across Australia, Papua New Guinea, Timor-Leste and the US. The company's structure includes three regional business units focused on implementing corporate strategy and a midstream energy solutions business unit. Santos' portfolio includes liquefied natural gas plants near prolific gas resources and diverse integrated oil and gas production assets. In the second quarter of 2025, the company's free cash flow from operations was approximately A$620m. Production reached 22.2 million barrels of oil equivalent (mboe), a 1% increase on the previous quarter, while sales volumes climbed 3% to 23.9mboe. In the first half, the company narrowed its unit production cost guidance to between A$7 and A$7.4 per barrel of oil equivalent. It also remains on track to achieve structural cost savings of A$150m annually over the next 18 months. "Santos extends exclusivity for XRG Consortium takeover talks " was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

MultiBank Group Posts $209M H1 Revenue, Expands Into Digital Assets With MBG Token Up 7X.
MultiBank Group Posts $209M H1 Revenue, Expands Into Digital Assets With MBG Token Up 7X.

Associated Press

time11-08-2025

  • Associated Press

MultiBank Group Posts $209M H1 Revenue, Expands Into Digital Assets With MBG Token Up 7X.

DUBAI, United Arab Emirates--(BUSINESS WIRE)--Aug 11, 2025-- MultiBank Group, the world's largest financial derivatives institution, delivered a strong first half of 2025 with $209 million in revenue, up 20% year-on-year, and $170 million in profit. In April, the Group set a single-day trading record of $56 billion, with high client activity sustained across its global platforms. This press release features multimedia. View the full release here: MultiBank Group entered the digital asset space in July with the launch of the $MBG Utility Token, now listed on MEXC, and Uniswap. Since its debut on July 22, $MBG has traded at around seven times its initial price, reflecting a strong market demand. Building on this momentum, MultiBank Group entered the digital asset space in July with the launch of the $MBG Utility Token, now listed on MEXC, and Uniswap. Since its debut on July 22, $MBG has traded at around seven times its initial price, reflecting a strong market demand. $MBG is a core part of MultiBank's four-pillar ecosystem, connecting traditional and digital finance: 'Achieving $209 million revenue in six months shows the strength of our core business and the trust of our clients,' said Naser Taher, Founder and Chairman. 'The rapid growth of our $MBG Utility Token demonstrates how our digital asset strategy builds on this foundation to create long-term value.' With over two million clients, 17+ financial licenses across five continents, and an unblemished compliance record since 2005, MultiBank Group continues to invest in technology, risk infrastructure, and market expansion, setting a solidbase for the remainder of 2025 and beyond. ABOUT MULTIBANK GROUP MultiBank Group, established in California, USA in 2005, is a global leader in financial derivatives. With over 2 million clients in 100+ countries and a daily trading volume exceeding $35 billion, it offers a broad range of brokerage and asset management services. Renowned for innovative trading solutions, robust regulatory compliance, and exceptional customer service, the Group is regulated by 17+ top-tier financial authorities across five continents. Its award-winning platforms provide up to 500:1 leverage across Forex, Metals, Shares, Commodities, Indices, and Cryptocurrencies. MultiBank Group has received over 80 international awards for trading excellence and regulatory compliance. For more information, visit MultiBank Group's website. View source version on CONTACT: Yazan Shakfeh Global Head of Marketing [email protected] +971585754191 KEYWORD: MIDDLE EAST UNITED ARAB EMIRATES INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY BLOCKCHAIN CRYPTOCURRENCY FINANCE DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SOURCE: MultiBank Group Copyright Business Wire 2025. PUB: 08/11/2025 03:00 AM/DISC: 08/11/2025 02:59 AM

Emirates becomes the biggest airline to crack down on power banks, after a fire underscored the danger
Emirates becomes the biggest airline to crack down on power banks, after a fire underscored the danger

Business Insider

time08-08-2025

  • Business Insider

Emirates becomes the biggest airline to crack down on power banks, after a fire underscored the danger

Emirates has become the latest and largest airline to crack down on power banks. The Dubai-based carrier announced Friday that using such devices will be prohibited on board its flights, starting October 1. Though many other airlines have cracked down on the use of power banks after one caught fire on a flight in January, Emirates' rules are among the strictest. Passengers won't be allowed to charge devices with power banks, nor charge a power bank itself using a plane's outlets. They're also only allowed one, which must be under 100 Wh, and stored in the seat pocket or a bag under the seat in front, not the overhead bin. It joins Southwest Airlines, Lufthansa, Singapore Airlines, and Thai Airways, among others. Authorities in Hong Kong and South Korea have also instituted rules about power banks on planes. Why airlines are cracking down on power banks On any airline, power banks must be carried in the cabin and not left in checked baggage, so cabin crew can intervene quickly to stop a fire from getting out of control. The dangers were spotlighted in January, when an Air Busan Airbus A321 caught fire before takeoff in South Korea. All 176 people aboard survived, but 27 were injured. Investigators said the fire was likely caused by a power bank, and the South Korean government announced stricter rules around their usage. Emirates said on Friday: "There has been a significant growth in customers using power banks in recent years, resulting in an increasing number of lithium battery-related incidents on board flights across the wider aviation industry." In May, a Southwest plane was forced to divert when a customer's battery charger overheated on a flight from Baltimore to Tampa. It occurred just 24 hours after the airline instituted new rules requiring customers to keep power banks visible while in use. The Southwest flight attendants followed procedures and put the device in a containment bag. The plane landed safely in South Carolina, where passengers had to wait five hours before continuing their journey on a new plane. Power banks are particularly risky because of their lithium batteries. If overcharged or damaged, it can result in thermal runaway, leading to rapid temperature increase. Unlike phones and laptops, many power banks don't have safeguards against this. Emirates has the fourth-largest network in the world by seat miles, behind only the US's Big Three. Its decision suggests more airlines could follow suit.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store