📈 Revent Raises $900K in Pre-Seed Round
UAE-based electronics marketplace Revent has successfully raised $900,000 in a pre-Seed round. The funding was led by Techstars, along with a group of angel investors from the e-commerce and SaaS industries. This significant investment marks a pivotal step for Revent as it plans to expand its services.
🔧 Building a Self-Service Platform
Revent, co-founded by Baldeep Singh and Dhananjay Choubey in 2022, is set to use the new funds to build a self-service platform. This platform will allow businesses to manage their devices, pay invoices, and raise support requests for AI-powered IT desk support. This innovation is expected to streamline operations for SMEs in UAE and KSA.
🌍 Expanding in Saudi Arabia
The expansion into Saudi Arabia is a key focus for Revent. With approximately 2 million SMEs in UAE and KSA spending up to 22% of their capital on depreciating assets, Revent aims to provide a cost-effective solution. "Revent offers devices at up to 40% lower cost of ownership compared to traditional options," said Mr. Vijay Tirathrai, Managing Director of Techstars.
🗣️ Industry Leaders' Support
Industry leaders have shown strong support for Revent's model. "Revent is creating a bank of quality devices and an AI-powered virtual IT desk that SMEs can leverage to reduce their Capex and focus their capital on growth," said Dhananjay Choubey, Co-founder. The rapid growth and support from notable investors highlight Revent's potential in revolutionizing the SME electronics market in the region.
What do you think about Revent's innovative approach?
