ExploreTECH, the UAE-based digital marketplace catering to the hospitality and travel technology sector in the Middle East and Africa (MEA), reflects on a highly successful inaugural year since its launch in January. Boasting an average of 5,000 monthly users, the platform witnessed an impressive 95% growth in product listings.
The digital marketplace, conceived by industry professionals for their counterparts, employs AI technology to streamline the often-complicated process of technology procurement. Unlike its counterparts, ExploreTECH operates on a data-to-win model, promoting technology agnosticism. This encourages tech vendors servicing the MEA region to present their content in both English and Arabic through two-way connectivity with Tarjama.
Co-Founder & CEO Mona Faraj expressed her excitement, stating, "I'm thrilled that we have had such a successful first year. It confirms that we're on the right track with our vision to drive industry innovation and simplify tech procurement through automation."
The platform, with over 1,000 hospitality and travel technology products listed across 12 main and 97 sub-categories, has become a pivotal player in the digital marketplace landscape. ExploreTECH has garnered investments totaling USD 2.4M to date, with support from numerous pre-seed investors.
To fuel its ambitious growth plans, ExploreTECH has initiated a seed funding round of USD 2M, projected to conclude by the end of Q1 2024. This next phase will support the 2024 blueprint for module development, encompassing a tech stack builder, product reviews, multi-lingual options, and the creation of an automated Request for Proposal (RFP) tool - an unprecedented innovation for the industry in the Middle East and Africa.
Faraj extended gratitude to early adopters, emphasizing their role in the platform's success, "It's been an incredible journey so far, and thanks to our early adopters who saw the value of ExploreTECH even before launch, we're seeing vast demand from the industry for our marketplace."
