Dukkantek has raised $5.2 million to facilitate expansion of its operations across the GCC. This first round of fundraising will allow the innovative company to continually improve its technology stack, expand the platform’s reach, and serve its ever-growing merchant base.
Amidst the global pandemic, businesses without a digital presence that were unable to facilitate online payments were severely impacted due to the decrease in customers visiting stores and increasing demand for contactless payment methods. To meet the growing demand for digital advancements within the community retail sector, Dukkantek was born entirely bootstrapped by three Co-Founders in January 2021. The 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. Additionally, its unique Cloud Inventory Management (IM) helps track stock, manage stock value, organize the inventory, manage fast-moving products, and generate reports for analysis.
Dukkantek closed their seed round before the start of the new year, bringing in $5.2 million in funding. The round was led by Global Founders Capital, with participation from Colle Capital Partners, Wamda Capital, Plug and Play, and Comma Capital. Other strategic investors in the round include Nowais Capital, Annex Investments, and AMK Investment Office.
