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Seed round to fund geographic and product range expansion plans
Dubai, United Arab Emirates: souKare.com, the Dubai-based lifestyle and healthcare tech startup, has announced it has successfully raised USD400,000 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", says 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 e-commerce 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, souKare.com offers a full range of leading contact lenses and fitness brands, such as Acuvue, Bella, Solotica, Optimum Nutrition, Jym and many more.
souKare's primary goal is to provide 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. “souKare’s relentless obsession with customer convenience and satisfaction, is what makes it stand out for me”, commented Nadir Akram, Dubai-based Partner in one of the leading global management consulting firms.
souKare not only plans to expand its product offering within the current product categories, but is 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 Faraz.
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About souKare.com
souKare.com is a Tech start-up, based in Dubai, that aims to become a leading online Lifestyle and Healthcare destination for consumers in the region, and beyond. Initially piloted as an online contact lens store in the UAE, souKare recently expanded into fitness products, and aims to diversify rapidly across products and services. souKare’s unique value proposition lies in its customer centric approach, including 90-minute home delivery for all in-stock items within Dubai, and express shipping worldwide.
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