UAE’s Dukkantek, Bahrain’s Faceki snag new cheques; Cartlow buys Melltoo
UAE-based store management platform Dukkantek has raised $10 million in a pre-Series A funding round led by BECO Capital with significant participation from Rocketship and Colle Capital.
Other investors in the round included Comma Capital, AMK Investment Office, Chaos Ventures, and Wamda Capital.
Dukkantek was founded in January 2021 by Sanad Yaghi, Shadi Joulani and Ali Alsayegh. It says it aims to strengthen local community stores through digital transformations and end-to-end technology to improve business processes.
The latest round follows the startup’s $5.2 million seed round in October 2021, taking its total funds raised to $15.2 million.
The startup said it will use the new money for geographical expansion, to increase the team size and to advance its technology.
Faceki
Bahrain-based identity verification platform Faceki has raised an undisclosed amount in a seed funding round led by Nama Ventures, with participation from Vision Ventures, and other angel investors.
Faceki was founded in March 2020 by Hamza Al-Ghatam, Mustafa Marhama, and Nabeel Radhi. It helps organisations combat online fraud and identity theft through a fraud protection platform that offers cloud biometrics and digital identity verification solutions powered by AI and machine learning.
Earlier in August, Faceki raised a funding round from Bahraini business angel network Tenmou to fuel its plans to accelerate technology innovation and reach new markets globally.
Cartlow
UAE-based reverse logistics platform Cartlow has acquired Melltoo platform for an undisclosed amount.
Cartlow was founded in 2019 by Anas ALkhaldi, Mohammed Sleiman and Nour Sleiman. It enables retailers and brands with various programmes including; returns management, warranty management, buy-back and trade-ins.
Melltoo, founded in 2014 by Sharene Lee and Morrad Irsanea, is a second-hand items platform.
Carlow said this acquisition will allow it to enhance its position in the reverse logistics market.
In line with the acquisition, Melltoo customers will be automatically redirected to Cartlow’s platform.
