Tech startup Yegertek gets funded by NB Ventures, increasing its worth to USD 6.25 million. Dubai-based Yegertek has secured an unknown amount of investment from GCC and India-focused Venture Capital firm NB Ventures, which is run by Dubai’s retail and technology investor, Neelesh Bhatnagar. Neelesh is an avid sports fan and patron and the owner of the Delhi Bulls, one of the premier Cricket franchises in the Abu Dhabi T10 league.
Yegertek, whose name is derived from the German word for warrior, uses the Microsoft CRM ecosystem, upcoming technologies such as machine learning, artificial intelligence, chatbots, and beacons, as well as an evolving strategic approach. Since its inception in 2017, the company has quickly progressed from rising star to market leader. Yegertek is a disruptor and challenger in developing and delivering data-driven CRM, eCommerce, and Mobility solutions with a customer experience and loyalty focus. Its impressive client list includes Harvey Nichols in Qatar, eCabs – Malta’s leading cab hailing service; a leading casual dining restaurant across the GCC; and a leading jeweller headquartered in Dubai, to name a few.
“With a constantly increasing portfolio of high profile clients driving our rise, the funding from NB Ventures comes at the perfect time for Yegertek”, says Sajid Azmi, Founder and CEO of Yegertek.
Further said, “Businesses are realising the power of engaging effectively with loyal customers and employees, using appropriate digital tools that leverage state-of-the-art technologies. Yegertek is positioned to justify the faith of prominent investors, such as NB Ventures, and the influx of this latest funding will serve as the catalyst for the next phase of Yegertek’s growth, within the region and beyond”.
“Application of emerging tools and technologies in Machine Learning, AI Driven Analytics, Chatbots, and Beacons–coupled by the growing focus on keeping customers at the centre of innovation -will allow businesses to bridge the gap between “customer wants” and “corporate expectations”across the UAE and the MENA region as whole, which is a key driver of our product portfolio strategy. For us, further investment in this vision, to enable our clients to offer their customers an unparalleled experience, takes inspiration from and is in line with the ‘Towards the Next 50’ directives by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai ”, adds Zain Shaikh, Co-Founder and Chief Operating Officer at Yegertek.
A Venture Capital firm with a history of making moves purely based on calculations, and meticulously crunched numbers, and a sharp acumen for identifying disruptive startups, NB Ventures is known for picking winners, as seen by its history of backing startups such as India’s Bigspoon, Teabox, Webengage, and Sirona Hygiene; Canada’s KloveChef (IOK Labs); and Dubai’s own Clip the Deal. The backing from NB Ventures will serve as a resounding validation of Yegertek’s creative engagement solutions, led by Bhatnagar, who has earned a sterling reputation for being the ultimate numbers man while also factoring in the transformative power of “passion investments.”
Talking about the funding, Neelesh Bhatnagar shared his faith in Yegertek’s innovation driven approach. “NB Ventures has always backed startups and companies that leverage technology to differentiate themselves. We see such innovators as particularly relevant in the new normal; when accelerating economic growth is even more of a priority than usual. Investing in a Dubai based startup, with young and forward thinking founders like Sajid and Zain, was a no-brainer for us”.
“My association with the consumer electronics retail brand Emax gave me a hands-on understanding of the transformative influence that customer loyalty and engagement can have, and the tech-enabled tools that Yegertek has developed, allow businesses to maximize that impact. The reason behind us selecting Yegertek for funding is simple; we see their solution as having the potential to dramatically empower growth, across business verticals, in the region”, he asserts.
