UAE-Based Store Management Platform Dukkantek Raises $10M Pre-Series A
Founded in January 2021 by Sanad Yaghi, Shadi Joulani, and Ali Alsayegh, Dukkantek is built to support traditional businesses and allow them to compete online.
Dukkantek, a UAE-based store management platform, has raised $10 million in a Pre-Series A funding round led by BECO Capital, with participation from Rocketship and Colle Capital. Other investors in the round included Comma Capital, AMK Investment Office, Chaos Ventures, and Wamda Capital.
Founded in January 2021 by Sanad Yaghi, Shadi Joulani, and Ali Alsayegh, Dukkantek is built to support traditional businesses and allow them to compete online. The platform offers in-store boxes fitted with a point-of-sale (POS) system that can be accessed digitally from anywhere in the world.
Through its cloud-hosted software, the platform enables business owners to keep track of transactions, monitor sales, calculate VAT and profit margins, amongst other benefits. Moreover, its Cloud Inventory Management also helps merchants track stock value, organize inventory, manage fast-moving products, and manage reports for analysis. To date, Dukkantek has 13 million small and midsize businesses (SMB) retailers in the UAE, Oman, Qatar, Kuwait, Bahrain, Turkey, and Saudi Arabia, with plans to expand to North Africa.
This is the startup’s second round of funding this year. Earlier in 2022, Dukkantek raised $5.2 million in funding to expand its operations across the GCC. The new funds will further support the startup’s global expansion plans, improve its technology, and expand the team.
“We are pleased to have witnessed an exponential growth of our company as we provide a technological solution to SME businesses across the world,” Sanad Yaghi, Co-Founder of Dukkantek, tells StartupScene. “This second round of funding comes at the perfect time as we are looking to explore growth in additional markets, increase our team size and further advance our technology.”
In H1 2022, the region's ecommerce sector received $500 million in investments according to data platform Magnitt. Some e-commerce startups that received the most funding this year include Pakistan’s Bazaar, which raised $70 million; Saudi Arabia’s Nana, which raised $50 million; and Egypt’s Cartona, which raised $22 million.