UAE-based venture capital firm ASA Ventures is set to introduce the country’s first decentralised mobile-based e-commerce network, ZON.

The company is planning to launch the platform nationwide next year.

The company has completed the ZON pilot. Since February this year, more than 30,000 sellers have been brought on board, tested and trained.

ZON, through its seller network, currently features more than 16 million stock keeping units (SKUs) on its platform.

ASA Ventures founder and CEO Arif Saiyad said: “For the past four years, we have been using proprietary machine-learning algorithm to collect and analyse data, which has made it possible to fulfil orders using real-time inventory information across every product category, regardless of the size of the seller.

“The key aspect of ZON is its decentralised model that allows for in-situ order fulfilment and real-time image-based validation of stock. We are launching in the UAE and will look to grow aggressively in other emerging markets thereafter.”

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Saiyad has so far granted a seed investment of $5m to ZON. The company used it for market research, product development, expansion of its retailer network and pilot testing.

In addition, ZON will secure a Series A funding round by 15 October this year.

Saiyad added: “ZON is unlocking the true potential of retail through a mobile-first approach that empowers those retailers that are currently offline to reach customers that are online, without the need for a centralised fulfilment.

“By virtue of expanding the universe of options for consumers, ZON is able to offer almost any product for cheaper than the cheapest e-commerce deal and deliver any product almost instantly, so we are confident consumers will embrace and love it.

“The real-time geo-tracking and advanced search capabilities that allow for price and proximity filters make the ordering process fun and entirely transparent.”