Boksha raises $1 million Seed investment
- Boksha, a UAE-based marketplace for fashion designers, has raised a $1 million Seed funding round from Sandooq Al Watan and several family offices.
- Founded in 2018, Boksha now counts over 800 designers and offers 15,000 stock-keeping units (SKUs). It ships to more than 40 countries worldwide.
- The company will use the funds to scale up its operations, invest in its technology, and expand to new markets in the region, starting with the GCC
Boksha, a UAE-based tech startup has closed a $1M Seed funding round from a group of investors, which includes Sandooq Al Watan and family offices.Founded in 2018, the platform is an online marketplace for independent fashion designers in the region offering Khaleeji themes. This is the company’s first raise, and it has bootstrapped itself since its inception, offering over 15,000 SKUs, representing over 800 designers, and shipping to over 40 countries worldwide to date.
Yahya Mohamed Saleh, Boksha co-founder and CEO, remarked “We are very excited about our next chapter post funding closing and see tremendous growth opportunities in the region. Not only do we see this as a largely scalable business, but also one with significant social impact in terms of job creation, individual empowerment and export of regional talent. Through our platform and tools, we believe we can give our designers access to a multi-billion-dollar fashion market globally – something most of them didn’t have access to before."
Hind Baker, Director-General of Sandooq Al Watan, added “Sandooq Al Watan is a national initiative launched by prominent Emirati businessmen to support innovators and talented Emiratis, and create every opportunity for them to thrive and unleash their full potential. This is the mandate our wise leadership entrusted us with; it is a mission we take seriously and are committed to fulfilling. We are delighted to be supporting Boksha – an inspired homegrown startup that draws from the culture and heritage of the Gulf region, while tapping into advanced technology. We are always open to any kind of bold and innovative ideas that can help diversify the UAE economy and prepare it for the post-oil era, in line with our mandate and the UAE leadership’s directives.”
The company will utilize the funds to scale up operationally and further invest into its technology to enter new markets in the region, starting with the GCC.