Google’s newest funding in India is a startup that’s serving to companies come on-line.
One-year-old DotPe, a Gurgaon-based startup, stated on Friday it has raised $27.5 million in its Series A financing spherical. The spherical was led by PayU, with participation from present investor Info Edge Ventures and Google.
The younger startup, now valued at about $90 million, helps brick and mortar shops promote to prospects on-line and acquire funds digitally.
It’s an issue that scores of startups in India are fixing in the present day, however DotPe has some extra hooks. It helps retailers scan their inventories and rapidly set up a log on-line.
Once the catalog is prepared, a enterprise can then make it accessible on WhatsApp and attain prospects there. WhatsApp is the most well-liked smartphone app in India, with more than 450 million users. DotPe says it additionally helps companies get visibility on Google Search.
The startup, co-founded by Shailaz Nag, previously co-founder and managing director of PayU, additionally permits neighborhood shops to gather funds from walk-in prospects and options instruments to supply loyalty factors and reductions to prospects to spice up engagement.
“This new partnership will empower businesses to be more discoverable, expand business avenues and conduct commerce like never before,” stated Nag. “Pandemic or not, we are here to reimagine the way offline businesses work and bring the digital revolution to the doorstep of every entrepreneur.”
Image Credits: DotPe
DotPe says its platform, which doesn’t require companies to put in an app, has amassed over 5 million retailers in the final six months. These retailers are seeing over 38% of day by day orders from repeat prospects, the startup stated.
“In a very short time, DotPe has acquired a promising merchant base with its impeccable product experience and innovation,” stated Anirban Mukherjee, CEO, PayU India.
Sanjay Gupta, VP and Country Head of Google India, stated in an announcement that the corporate’s funding in DotPe is illustrative of Google’s perception in “working with India’s start-up ecosystem towards the goal of building a more inclusive digital economy that will benefit everyone.”
Google introduced a $10 billion fund for India final 12 months, its greatest market by customers. The Android-maker has invested in a number of startups in the nation, together with hyperlocal supply agency Dunzo, InMobi Group’s Glance and DailyHunt.
DotPe stated it would deploy the recent capital to achieve extra retailers in India and scale its know-how stack to fulfill the rising demand.
Early Stage is the premier “how-to” occasion for startup entrepreneurs and buyers. You’ll hear firsthand how a few of the most profitable founders and VCs construct their companies, elevate cash and handle their portfolios. We’ll cowl each side of firm constructing: Fundraising, recruiting, gross sales, product-market match, PR, advertising and model constructing. Each session additionally has viewers participation built-in — there’s ample time included for viewers questions and dialogue. Use code “TCARTICLE” at checkout to get 20% off tickets right here.
