Arzan VC Fund III’s 4th seed investment, Hulexo, an award-winning ERP provider for small and medium-sized retail establishments in Abu Dhabi, underlines the fund’s dedication to early-stage innovation teams.
Huzaifa Hameed, Ibrahim Al Rachdi, and Marwin Favila founded Hulexo in 2021 with the goal of developing a highly configurable ERP system that processes customer data and makes profitable recommendations in real time, minimizing stockouts and deadstock while turning operations and decision-making into a proactive rather than reactive process.
Since its founding, the company has onboarded over 100 retail outlets. Several well-known UAE local firms, like The Giving Movement, Transguard Group, My Vapery, Padel Life, and Nauras Sandals, are among their clientele.
Read also- India-Based HDFC Bank Forge Partnership with Chitkara University
Huzaifa Hameed, Hulexo’s Co-founder and CEO commented: “We are excited to have Arzan VC as a key partner in our journey to scale further into the Middle East market. This partnership will play a crucial role in our efforts to keep innovating and delivering faster, smarter & more robust solutions for retailers in UAE and beyond.”
The funding from Arzan VC will enable the team to establish partnerships with malls, payment processors, licensing authorities, and Hulexo’s entry into two additional markets—Kuwait and Saudi Arabia—as well as help them achieve 300 retail locations by the end of 2025.
Read also- India-Based AGRIM has Secured $17.3 Million in Series B Round Funding
Hasan J. Zainal, Arzan VC’s Founder & Managing Partner, commented: “Traditional ERP systems are often costly for SMEs, with over 75% of implementations failing. This is why we at Arzan VC see Hulexo as a game-changer for retail SMEs in the region. We chose to invest in Hulexo to support their MRR growth and expansion into Kuwait. Plus, we genuinely believe in the strength of their team.”
About Hulexo
Hulexo, Huzaifa Hameed, Ibrahim Al Rachdi, and Marwin Favila founded Hulexo in 2021 to assist merchants optimize operations with customized, subscription-based ERP systems. Their decision engine helps retail organizations make lucrative decisions without leaving them to navigate alone. Hulexo signed over 100 retail locations in two years, including The Giving Movement, Transguard Group, and The First Group.
