Dukkantek, a supplier of retailer administration platforms primarily based within the United Arab Emirates, introduced it has raised $10 million in pre-Collection A funding.
The corporate, which focuses on small and medium-sized retailers, mentioned in a Monday (Aug. 15) announcement that it’ll use the funding to develop within the Europe, the Center East and Africa (EMEA) area. The corporate already 13 million retailer purchasers within the UAE, Oman, Qatar, Kuwait, Bahrain, Turkey and Saudi Arabia, per the Monday (Aug. 15) announcement, as reported by Magnitt.
Based in 2021 by Sanad Yoghi, Shadi Joulani and Ali Alsayegh in 2021, Dukkantek “presents superior in-store packing containers fitted with a seamless Level-of-Gross sales system that may be accessed on-line from wherever on the earth.” Options of the system embody transaction monitoring, gross sales monitoring, VAT (value-added tax) calculation, report technology and profit-margin calculation. The suite additionally features a cloud stock administration system.
The most recent funding, in response to Dukkantek, comes from BECO Capital, Rocketship and Colle Capital in addition to Comma Capital, AMK Funding Workplace, Chaos Ventures and Wamda Capital.
Abdulaziz Shikh Al Sagha of BECO Capital mentioned in a ready assertion: “It’s very uncommon to come back throughout a enterprise and crew which have been capable of execute how Dukkantek has executed thus far. Launching 7 international locations in 18 brief months since founding is not any simple feat, but the Dukkantek crew has managed to do it in such a seamless and capital-efficient method.”
In accordance with Dukkantek, the corporate closed a seed spherical of $5.2 million in funding earlier this yr.
Firm executives informed Forbes for an article revealed in Might of this yr that a part of Dukkantek’s success has come from providing small and medium-sized companies (SMBs) entry to expertise that sometimes is barely inside attain of bigger rivals.