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This article is part of an ongoing series covering startups that have become part of the project Mohammed bin Rashid Innovation Fund (MBRIF) Accelerator Program.
Small and medium-sized enterprises (SMEs) in the UAE face many challenges, and the implementation and management of enterprise resource planning (ERP) systems often results in inefficiencies. While there are plenty of statistics to underscore this point, Huzaifa Hameed, co-founder and CEO of Hulexo, a UAE-based cloud-based retail ERP system, has experienced this particular challenge firsthand. “As someone who comes from a family of small business owners, I see firsthand the challenges of staying competitive and making informed decisions in a fast-paced retail environment,” Hamid said. “As my co-founders, Marwin Favila and Ibrahim Al Rachdi, and I studied computer science and artificial intelligence (AI), our vision began to crystallize. It suddenly dawned on me that the power of AI could be used to not only streamline processes, but “But revolutionize retail. The idea is not just to automate processes; it’s to provide retailers with insights that can transform their decision-making processes. “
Therefore, Hulexo was launched in Abu Dhabi in 2021 as an ERP platform to help retailers streamline operations and make smarter decisions through an artificial intelligence-driven decision recommendation engine. The startup’s core goal is to address many of the shortcomings of traditional ERP systems. “Traditional ERP systems lack the agility and adaptability needed to keep up with rapidly changing consumer behavior and the requirements of expanding businesses,” explains Hameed. “They are often cumbersome, poorly supported, and provide static insights that quickly become outdated. The gap between data collection and actionable intelligence is a challenge that many retailers strive to bridge. Driven by the desire to make a meaningful impact Next, we decided to embark on the journey of creating an artificial intelligence-driven retail ERP system.”
The Hulexo platform thus provides services such as inventory management, smart point of sale (POS), procurement management and e-commerce integration. While data collection is an important part of any ERP system, Hulexo’s goal is to provide actionable insights in the form of reports and analytics. “The biggest difference from our competitors is that all these systems allow retailers to understand the collected data, while our system uses a powerful artificial intelligence decision engine to process the data and make real-time decision recommendations to facilitate operations and decision-making. The process is proactive, not reactive,” explains Hamid. “In addition, Hulexo is built with Rapid Application Development (RAD) technology, which speeds up our customization and implementation time by six times, and provides one-click integration to multiple third-party applications such as Shopify, WooCommerce, QuickBooks, etc., while synchronizing inventory in real time and other information.”
In the two years since its inception, Hulexo has collaborated with a number of UAE retailers on a number of successful projects, including well-known brands such as Adidas and DKNY, as well as locally-based brands such as Padel Life, The Giving Movement, Nauras Sandals, etc. One Group and Jimmy LeBond. “Hulexo is a team of highly skilled professionals with over 30 years of collective experience in technology, data science and artificial intelligence,” Hameed added. “Last year, we acquired 100,000 shares from UAE seed and early-stage venture capital (VC) companies. Flat6Labs secured $215,000 in pre-seed funding. This is a key milestone that drives us to achieve product market fit and expand our scale. “We are delivering solutions to over 100 retailers. Currently, we are actively working on the next This round of funding seeks capital to fuel our expansion into the retail markets in Saudi Arabia and Qatar.”
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While all the pieces of Hulexo’s puzzle pieces appear to be falling into place now, that was far from the case when Hamid and his co-founders first got into the business. “One of the significant hurdles we faced was initial skepticism from potential investors, who were wary of the uncharted territory of merging artificial intelligence with the complexities of retail,” he recalls. “In pitch after pitch, we were bombarded by to rejection, many investors failed to grasp the potential of our startup. Additionally, we grappled with the complexities of integrating artificial intelligence algorithms with diverse operations in retail. In seeking to create inclusive solutions for In the process: Small and medium-sized enterprises, financial pressures are prominent. Developing cutting-edge artificial intelligence technology requires a lot of resources, and we often find ourselves stretched and wondering whether we can make it until the next salary payment. We must make difficult decisions, prioritize features, and be efficient Allocate resources and find creative solutions to financial constraints.”
Hamid admits that along with funding challenges came moments of self-doubt for the three co-founders. “Balancing the ambition to push the boundaries of technology with the need for practical, user-friendly solutions is an ongoing struggle,” he added. “The pressure to deliver products that meet the expectations of both tech-savvy professionals and those unfamiliar with advanced technology adds an additional layer of complexity.”
Source: Hulexo
For all the entrepreneurs reading this story, perhaps Hamid’s open admission of the challenges they faced and how they overcame them will prove to be a valuable learning lesson about how to deal with rejection. After all, after overcoming all these hurdles, Hulexo’s potential was finally realized—a turning point that came with the aforementioned seed round led by Flat6Labs. “Stories of overcoming adversity became an integral part of our company identity and were a testament to hard work and perseverance,” said Hamid. “We reached a critical point in our journey when we needed capital to scale our business and To bring our solutions to a wider audience. We decided to look for investors who shared our vision for the future of retail. After months of pitches, negotiations, and countless demos, Flat6Labs decided to lead the first round of funding , the breakthrough came when it injected much-needed capital into the company.”
The company received another seal of validation when it was included in the seventh phase of the MBRIF Innovation Accelerator program at the end of 2023. “The MBRIF program provides our startups with everything they need to scale, from experienced mentors to one-on-one consulting,” Hamid said. “What I love about this program is how personalized it is and meets the individual needs of our startup.”
Looking back on Hulexo’s trajectory to date, Hamid insists that it was the obstacles he and his co-founders faced that strengthened their determination to succeed. “Every rejection, technical hurdle and financial limitation served as a stepping stone, pushing us to refine our approach, strengthen our technology and find innovative solutions,” he said. “Frustrations became catalysts for creative problem solving and collaborative thinking. Ultimately, the challenges encountered along the way were not obstacles but essential chapters in the Hulexo story. They shaped the team’s resilience, refined the product, and ultimately enabled the system Success has a lasting impact on retail.”
But regardless of the tough times and rewarding moments, Hamid has always believed in his startup’s potential from day one, and he hopes to continue to build on that confidence as the company looks to the future. “Our mission has always been clear: to provide retailers, especially small and medium-sized enterprises, with the tools they need to thrive in an increasingly digital and data-driven world,” Hamid revealed. “For us, this journey is about more than just building a successful business; it’s about enabling retailers to reach their full potential. The personal satisfaction that comes from seeing a business grow and prosper is what first sparked the passion to ignite this journey .Ultimately, this is more than just technology; it is a testament to the transformative power of passion, innovation, and a genuine desire to make a positive impact on the world.”
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