Abu Dhabi’s Hulexo raises seed round: Hulexo, the Abu Dhabi-based enterprise resource planning (ERP) provider for small and medium-sized retail stores, has closed a seed investment that saw it raise capital from Arzan VC, Wamda reports. It did not say how much it raised.

Where will the money go? Arzan VC’s investment will fund Hulexo’s expansion plan to reach 300 retail locations by the end of 2025 as well as its expansion into Kuwait and Saudi Arabia’s markets. It will also help it create partnerships with malls, payment providers, and licensing authorities.

About Hulexo: Founded in 2021, Hulexo aims to create a customisable ERP solution that uses a decision-making engine to reduce stockouts and deadstock. The company has onboarded more than 100 retail locations since its inception.

Tags: