E-commerce concept set to expand in the region
Dubai-based e-commerce platform SouKare.com has raised $400,000 in funding from GCC investors as part of its seed round.
The website, which currently operates in the UAE and Saudi Arabia, offers lifestyle products that can be delivered within 90-minute in Dubai, reportedly ranking highly in customer service and satisfaction.
Founder Faraz Khan said the funding will help accelerate the platform’s growth by expanding its geographic footprint as well as its product range, though he did not reveal details of the expansion plans.
Investor and partner at Middle East consulting group ValuStrat, Yousuf Siddiki, said he sees ‘great potential’ for the online retail market.
“I am a big believer in SouKare's vision to provide a simpler, safer and superior solution to customers and redefine the sector,” he said.
The platform is set to launch a ‘major’ product category in the coming months, according to Khan.
“The market size for our next category is estimated at 10 times the size of our current product categories put together. Our vision is to change the way customers purchase lifestyle and healthcare products, and to ultimately become a leading healthcare tech player in the region and beyond,” he said.