UAE-based digital store management platform Dukkantek has raised $5.2 million in a seed round to digitalize traditional retail spaces. The funding round was led by Global Founders Capital.
Colle Capital Partners, Wamda Capital, Plug and Play, and Comma Capital also participated in the funding along with other strategic investors including Nowais Capital, Annex Investments, and AMK Investment Office.
Founded in January 2021 by Shadi Joulani, Ali Alsayegh, and Sanad Yaghi, Dukkantek is the first and only store management platform designed to empower traditional merchants.
Dukkantek aims to strengthen local community stores through digital transformations and end-to-end technology that improves all business processes as a seamlessly integrated system with cloud-hosted software.
Dukkantek’s platform offers advanced in-store boxes fitted with a seamless Point-of-Sales (POS) system that can be accessed online, from anywhere in the world. The cloud-hosted software allows business owners to keep track of transactions, monitor sales, calculate VAT, generate reports, and calculate profit margin.
In addition, the platform’s unique Cloud Inventory Management (IM) helps track stock, manage stock value, organize the inventory, manage fast-moving products, and generate reports for analysis.
Dukkantek will employ the fund in empowering traditional merchants to thrive in a digital world, expanding exponentially, and maintaining its premium end-to-end technology.
Mariam Kremer, Partner at Global Founders Capital, concluded with high hopes for the UAE-based team, “Dukkantek’s impressive traction and long-term potential are underpinned by a strong team, a full-stack solution, and a comprehensive offering for the merchants they onboard. We are thrilled to lead this funding round and partner with the Dukkantek team to help make their vision a reality and continue our support for high-growth startups in the MENA region”.
