Saudi startup Dokkan Afkar closes $2M round
Dokkan Afkar announced yesterday, it has closed a $2 million investment round led by Riyad Taqnia Fund (RTF).
Dokkan Afkar is a leading Saudi-based ecommerce platform that specializes in unique and innovative products and gadgets.
“With this latest round, we will introduce more products and foray into newer countries to make Dokkan Afkar accessible to its customers,” said Ammar Waganah, CEO of Dokkan Afkar.
Launched in 2013, Dokkan Afkar set out to target the GCC shoppers online. It aims provide innovative, design-oriented products and gadgets.
“We look forward to strengthening our regional presence in high-demand geographies,” said Waganah. “Our focus will remain on being the leading platform by which designers and collaborators, both local and international, can come to showcase their unique designs and products in MENA.”
Dokkan Afkar wishes to help designers in Saudi Arabia monetize their arts and designs through a special community program that will be launched soon.
The ecommerce industry is growing rapidly in the region, and Dokkan Afkar will look to drive innovation to improve the shopping experience, from how customers find the products they are looking for to how the products are delivered to their homes.
RTF is a venture capital fund founded by Riyad Capital and Taqnia. It is backed by leading institutional investors in Saudi Arabia and invests in the areas of ICT, energy, and sustainability.
“We are delighted to receive a significant equity investment from such an institutional VC Fund, which is going to add value to Dokkan Afkar and all its shareholders,” said Waganah.