Dubai-based Conektr raises $800K Pre-Series A funding round
Conektr, a digital platform that bridges the gap between brands and the end consumers, along with the intermediaries, has raised AED 3M ($800K) in a dual-tranche Pre-Series A funding round, from Auris Investments.
• Conektr integrates the lower trade segment’s fragmented value chain by providing a data-enabled digital marketplace platform connecting brands, distributors, and wholesalers on retailers, optimizing marketing, ordering & logistics inefficiencies inherent to this segment.
• Conektr Hub is a “digital grocery” solution that integrates the entire B2B2C value lower-trade chain (including end consumers) while providing its participants with all the building blocks of a 21st century business.
• The funds will be used to add depth to its suite of B2B solutions, making the technology platform more robust and further developing Conektr Hub.
Madhusudhanan Janakarajan, Founder and CEO said, "Even though this segment benefits from the convenience of next-door proximity and still retains its traditional place in the shopping habits of the UAE’s population, it suffers from the inefficiency of fragmented ordering, delivery, and lack of technology enablement for its target end-customers.”
Read the full press release below.
Conektr, a Dubai-based digital lower trade, groceries, and HORECA marketplace platform has raised AED 3M ($800K) in a dual-tranche Pre-Series A round from Auris Investments, an investment vehicle co-sponsored by Faber Capital’s holding company and several affiliated investors.
Founded by Madhusudhanan Janakarajan, and commencing its operations and product depth development in 2019, the marketplace platform uses technology to bring the GCC Lower Trade Groceries & HORECA segment into the 21st century.
Conektr integrates the lower trade segment’s fragmented value chain by providing a data-enabled digital marketplace platform connecting brands, distributors, and wholesalers on retailers, optimizing marketing, ordering & logistics inefficiencies inherent to this segment.
Mr. Janakarajan, CEO, said “In a society as tech-forward as the UAE, with over $36B gross online spending in 2018 alone, the fact that two-thirds of distributors do not use a CRM seems unthinkable.” Since its launch in early-2019, Conektr has achieved significant penetration - Conektr’s platform is today used by 4000+ retail outlets and offers 1800+ SKUs.
“Even though this segment benefits from the convenience of next-door proximity and still retains its traditional place in the shopping habits of the UAE’s population, it suffers from the inefficiency of fragmented ordering, delivery and lack of technology enablement for its target end-customers.” continued Mr. Janakarajan. “Optimizing the structure, logistics, and marketing inefficiencies of this segment will benefit the entire value chain, but the real value-creation we see is in creating a consolidated and data-permeable ecosystem.” referring to Conektr’s development of “Conektr Hub”.
Conektr Hub is a “digital grocery” solution that integrates the entire B2B2C value lower-trade chain (including end consumers) while providing its participants with all the building blocks of a 21st century business.
Conektr is deploying the funds to add depth to its suite of B2B solutions, making the technology platform more robust and further developing Conektr Hub.
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The Food & Beverage industry saw increased investment activity over the last 5 years, jumping from just 10 deals in 2015 to 54 in 2019. Discover more trends and insights in our 2019 F&B MENA Venture Investment Report.