UAE technology startup Dukkantek has raised $10 million in pre-Series A funding in order to expand into new markets and improve its core technology.
The company noted that the latest funding comes from BECO Capital, Rocketship, and Colle Capital as well as Comma Capital, AMK Investment Office, Chaos Ventures, and Wamda Capital.
Dukkantek, which focuses on small and medium-sized retailers, said in a statement that it will use the funding to expand in Europe, the Middle East, and Africa (EMEA) region. The company currently supports 13 million retailer clients in the UAE, Oman, Qatar, Kuwait, Bahrain, Turkey, and Saudi Arabia.
Mr. Abdulaziz Shikh Al Sagha of BECO Capital said that, “It’s very rare to come across a business and team that have been able to execute how Dukkantek has done so far. Launching 7 countries in 18 short months since founding is no easy feat, yet the Dukkantek team has managed to do it in such a seamless and capital-efficient manner.”
The store management platform previously raised $5.2 million in a seed round in October, taking its total funding to $15.2 million.
Founded in 2021, Dukkantek offers advanced in-store boxes fitted with a seamless Point-of-Sales system that can be accessed online from anywhere in the world.
According to the company, “Features of the system include transaction monitoring, sales monitoring, VAT (value-added tax) calculation, report generation, and profit-margin calculation. The suite also includes a cloud inventory management system.”
“We are pleased to have witnessed an exponential growth of our company as we provide a technological solution to SME (small and medium enterprises) businesses across the world,” commented Mr. Sanad Yaghi, co-founder of Dukkantek.
