Egyptian enterprise e-commerce startup el-dokan raised $550k Pre-seed funding
El-dokan, an Egyptian company in corporate e-commerce technology, has received a US $550,000 pre-seed round of investment to help it gain market share.
El-dokan, which will debut in late 2020, primarily targets big box shops and chain stores looking to grow their e-commerce market share, boost sales, and automate operations.
El-dokan offers an infrastructure that uses “headless e-commerce technology” to enable tech teams to create highly customizable e-commerce with the greatest amount of flexibility to assist businesses in responding quicker to changing business demands and staying up with the rapid changes in e-commerce.
With more than 300 open API endpoints, it not only targets retailers but also software firms and developers that work closely with businesses wishing to quickly and affordably construct their e-commerce sites.
A group of local and regional investors, including EFG EV, Flat6Labs, 500 Global, and Hala Ventures, provided the $550,000 in pre-seed capital.
“After seeing the great impact el-dokan has had on enterprise businesses in MENA, and the profound growth we’ve experienced over a short period of time, we’re excited about the fact that our clients managed to achieve US$45 million GMV after migrating from other global well-known software solutions that don’t meet the present-day challenges to ours,” said Mohamed Yousry, chief technology officer (CTO) and co-founder of el-dokan.
“We are now serving a global roster of clients such as Procter & Gamble (P&G), Misr Pharmacies, Mobily, Zahran stores and Apple Premium seller Switch Plus, along with grocery delivery app Appetito, among others. And this is a testament to the ability of regionally-based tech startups to develop leading-edge technologies trusted by large, international brands and compete with global counterparts.”
