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Dukkantek, a store management platform provider based in the United Arab Emirates, announced that it has raised $10 million in pre-Series A funding.
The company, which focuses on small and medium-sized retailers, said in an announcement on Monday (August 15) that it will use the funds to expand in the Europe, Middle East and Africa (EMEA) region. According to an announcement on Monday (August 15), the company already has 13 million retail customers in the United Arab Emirates, Oman, Qatar, Kuwait, Bahrain, Turkey and Saudi Arabia, Magnitt reported.
Founded in 2021 by Sanad Yoghi, Shadi Joulani and Ali Alsayegh, Dukkantek “offers state-of-the-art in-store boxes equipped with a seamless point-of-sale system that can be accessed online from anywhere in the world.” The system’s features include transaction monitoring, sales monitoring, VAT ( Value Added Tax) calculation, report generation and profit margin calculation. The suite also includes a cloud-based inventory management system.
According to Dukkantek, the latest funding comes from BECO Capital, Rocketship and Colle Capital, as well as Comma Capital, AMK Investment Office, Chaos Ventures and Wamda Capital.
BECO Capital’s Abdulaziz Shikh Al Sagha said in a prepared statement: “Few businesses and teams can execute what Dukkantek has done to date. Launching in seven countries in just 18 months since inception is no mean feat. Easy task, but the Dukkantek team managed to do it in such a seamless and capital efficient way.”
According to Dukkantek, the company completed a $5.2 million seed round earlier this year.
Company executives told Forbes in an article published in May that part of Dukkantek’s success comes from providing small and medium-sized businesses (SMBs) with technology typically only available to larger competitors.
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