This award-winning ERP is our 47th investment

We’ve just made our 47th investment ?? which is also the 4th investment of our AVC Fund III.

It only makes sense that this issue will be all about Hulexo, the award-winning ERP solution based in Abu Dhabi, currently eyeing Kuwait and Saudi.

Welcome to the family, team Hulexo ??

The story of Hulexo and why we invested in them

Let’s rewind to 2021.

Huzaifa Hameed , Marwin Vincent Favila and ibrahim alrachdi are working together in an ERP company where they are witnessing firsthand the challenges and inefficiencies that plague the space. Clients are struggling with systems that are slow to customize and pricey to implement. They see projects fail due to poor partner choices, resulting in frustration and tons of missed opportunities...

They realize they are driven by a shared vision and decide to leave their jobs to create an ERP solution that not only addresses the above pain points but also redefines what’s possible in the industry.

[Hulexo enters the scene.]

There are plenty of competitors on the scene already. How does Hulexo stand out? It kinda goes against the ERP industry norms.

Robust decision-making engine: The competitors’ systems leave it to the retailer to make sense of the data collected, whereas Hulexo’s system uses a robust decision-making engine to process the data and suggest profitable decisions in real time, reducing stockouts and deadstock while making the operations & decision-making process proactive rather than reactive.

No third-party implementation partners: Hulexo is built using Rapid Application Development Technology (RAD), which allows for 6x faster customization & implementation times. This technology gives it the ability to scale rapidly without ever needing third-party implementation partners, which is the ERP industry norm.

Early on in its journey, Hulexo closed a supermarket client inside Abu Dhabi Police College. This client needed a POS system based entirely on RFID cards and store credits, with only 3 days to go live. The team had no experience with RFID technology, but they worked tirelessly, learning and customizing the system on the fly. Despite the tight deadline, they pulled it off and the launch was a success.

Since 2021, Hulexo has onboarded more than 100 retail locations for clients like The Giving Movement , Transguard Group , MyVapery.ME , Padel Life and Nauras Sandals.

Here’s a retail story that stands out for the team:

“Padel Life is our favorite retail success story. This is a sports equipment retailer in the UAE that struggled with inventory management and slow order processing as their business expanded. Their outdated systems led to inefficiencies and missed opportunities. Hulexo provided Padel Life with real-time data and actionable insights. This enabled them to make smarter, data-driven decisions on inventory management, purchasing and customer service. As a result, they achieved over 90% inventory accuracy, reduced stockouts by 80% and reduced deadstock by 25%. Our solution also supported their expansion, allowing Padel Life to seamlessly open 5 new retail outlets in the last 2 years.”

+1 random fact about team Hulexo— they admire the culture at Zapier because of its emphasis on flexibility & employee empowerment.

What’s next for Hulexo? 300 retail locations by end-2025. Expansion to Kuwait and Saudi Arabia. New partnerships with malls, payment providers and licensing authorities.

___ I guess it’s very clear why Hulexo won our team’s heart. We see it as a game-changer for retail SMEs in the region. We want to support Hulexo's MRR growth and expansion into Kuwait. Plus, we genuinely believe in the strength of the team.

Your startup = our 48th investment? We will invest in 3 more early-stage startups before the end of this year... awaiting your decks.??

TL;DR (too long; didn’t read) I write about our 47th investment to-date. UAE’s Hulexo helps retailers streamline their operations by providing customized, subscription-based ERP systems. Clients include The Giving Movement, Transguard Group, My Vapery, Padel Life and Nauras Sandals. Hulexo onboarded over 100 retail locations and they want to reach 300 by end-2025. We want to support their MRR growth and expansion into Kuwait. Yalla!

This article was originally published by Arzan Venture Capital in its July/August 2024 Newsletter. You may subscribe to the newsletter here.