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UAE Startup Dukkantek Raises $10 Million In Funding

The digital storefront management platform for retailers hopes to expand its service to North Africa after a successful round of funding.

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uae startup dukkantek raises $10 million funding

A technology startup in the United Arab Emirates, known as Dukkantek, has recently raised $10 million in funding, helping the company to get closer to its aim of expanding into new markets and improving core technologies.

The latest round of funding, which venture capital company Beco Capital led, included additional participation from Colle Capital, Rocketship, Comma Capital, Chaos Ventures, AMK Investment Office, and Wamda Capital.

The funding boost will help Dukkantek more easily expand globally by improving the firm’s technology and enabling them to hire more talent. The store management platform raised $5.2 million last October, taking the total investment figure to $15.2 million.

“We are pleased to have witnessed an exponential growth of our company as we provide a technological solution to SME businesses across the world. 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,” says Dukkantek co-founder, Sanad Yaghi.

Dukkantek was founded in January 2021 and provides a digital storefront management platform that allows retailers to offer advanced point of sale systems that can be accessed online from any location in the world, using the power of cloud computing.

Also Read: Farfetch Aims To Bring Web3 To The World Of Fashion

The Middle East’s eCommerce market is expected to reach $49 billion by 2025, representing a 55% increase from 2021, with the United Arab Emirates alone forecast to grow 60% to more than $8 billion by 2025.

“Launching seven 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,” says Abdulaziz Al Sagha, venture partner at Beco Capital.

Dukkantek, named after the Arabic word for corner shop, already supports 13 million small and medium-sized businesses across the Middle East and soon hopes to expand operations to North Africa.

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Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

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initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

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