souKare.com raises funding for expansion

Funding News

souKare.com, the Dubai-based lifestyle and healthcare tech startup, has announced it has successfully raised USD400,000 funding from a diverse set of well-established angel investors from UAE and KSA.

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.

Faraz Khan, founder, souKare

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. Commenting on the successful attempt to raise the funding, the founder of souKare, Faraz Khan said “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.”

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 Khan.

One of the investors in souKare, Yousuf Siddiki, Saudi investor and Partner at ValuStrat commented “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.”

 

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