Ecommerce Startup Raises $400K

ArabNet Team, Jul 02 2018, the Dubai-based lifestyle and healthcare tech startup, has announced it has successfully raised $400K in funding from GCC-based investors as part of its seed round.

souKare’s investment comes from a diverse set of well-established angel investors from UAE and KSA including CEOs, partners and senior management from strategy consulting, private equity, and startup firms.

"I see great potential in the online market for lifestyle and healthcare products and services. I am a big believer in souKare's vision to provide a simpler, safer and superior solution to customers and redefine the sector", said Yousuf Siddiki, Saudi investor and partner at ValuStrat.

According to Faraz Khan, founder of souKare, "We are delighted to have on board such a strong investor panel from the GCC. This will help us further accelerate our current growth momentum by expanding our footprint geographically as well as expanding our product range.”

The ecommerce website, which leverages technology and artificial intelligence, provides fast and hassle-free offerings to customers through its online platform. Currently live in the UAE and KSA, offers a full range of leading contact lenses and fitness brands from as Acuvue, Bella, Solotica, Optimum Nutrition, Jym and many others.  

souKare's primary goal is to provide a fast, convenient and hassle-free experience to its customers. Their 90 minute delivery service within Dubai, for all in-stock items, is unparalleled so far.

Not only does souKare plan to expand its product offering within the current product categories, but it is also on track to launch a new major product category in the coming months.

“The market size for our next category is estimated at 10 times the size of our current two 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”, commented Khan.


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