UAE E-Commerce Startup WEE Raises $12 Million in Pre-Series A Round

UAE-based e-commerce startup WEE has concluded a pre-Series A funding round at $12 million, after raising $10 million from SIG Investment. Already known for speedy product delivery across the UAE, this round of funding will allow WEE to upgrade its logistics capabilities, expanding the area within which it can offer next-day delivery.

WEE was founded in 2021 by Anastasia Kim, Oleg Dashkevich and Sergey Kolikov, and has previously secured $6.5 million for expansion within the Emirates since its inception. As well as expanding its network and improving delivery speeds, the funding will also allow the startup to venture into new sectors.

“Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting,” Anastasia Kim, CEO and cofounder of WEE, tells StartupScene.

The UAE e-commerce market is a booming sector, expected to surge to a value of $20 billion within the next two years, with categories such as cosmetics, pharmaceuticals, flowers, and groceries slated to drive the most growth in the e-commerce industry.