UAE B2B2C Marketplace Conektr Raises $800,000 in Pre-Series A Round

Conektr, a UAE-based grocery and hospitality industry product marketplace platform, has raised AED 3 million ($80,000) in a dual-tranche Pre-Series A round led by Auris Investments.

The platform, founded by Madhusudhanan Janakarajan, harnesses data to create a digital marketplace that optimises connection between brands, distributors, wholesalers and retailers solving many logistical issues with this industry.

“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," says Janakarajan. "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.”

In a short period of time since its launch in Q1 2019 Conektr has garnered a huge market share, with its platform being used by more than 4000 outlets, offering more than 1800 SKUs.

Conektr plans on using its new funds to further develop its B2B solutions, making the technology platform more robust whilst further developing Conektr Hub - a digital grocery store that connects the entire supply chain, all the way to the end customer. “Optimising 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,” continues Janakarajan