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DUBAI: Boksha, an Emirati-founded e-commerce platform selling Khaleeji-themed fashion items, has raised $1 million in early-stage funding, state news agency WAM reported.
This is the first funding the company received since its founding in 2018. Boksha now has more than 15,000 products by more than 800 designers, and ships to dozens of countries worldwide.
The startup will use the fund to improve its operations, and invest in technology to further expand across the Gulf and the wider Middle East.
“We are very excited about our next chapter post-funding closing and see tremendous growth opportunities in the region,” Yahya Mohamed Saleh, co-founder and CEO, said.
“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,” he added.
The term Boksha, which comes from an Arab Gulf dialect, refers to a piece of fabric traditionally used as a pouch or head carrier by female merchants for storage of their goods.
The company aims to help local designers catapult their careers into a big platform – particularly Emirati women.
“More than 90 percent of our designers are Emirati females between the ages of 18 and 35, we expect to see a very similar demographic as we expand regionally,” Saleh said.
“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,” he added.
Investors who took part in the funding round included Emirati group Sandooq Al Watan.
“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,” its director-general, Hind Baker, said.