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 Collection A financing spherical. The spherical was led by PayU, with participation from current investor Data Edge Ventures and Google.
The younger startup, now valued at about $90 million, helps brick and mortar shops promote to clients on-line and gather funds digitally.
It’s an issue that scores of startups in India are fixing at this time, however DotPe has some extra hooks. It helps retailers scan their inventories and shortly set up a log on-line.
As soon as the catalog is prepared, a enterprise can then make it out there on WhatsApp and attain clients there. WhatsApp is the most well-liked smartphone app in India with over 450 million customers. 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 clients and options instruments to supply loyalty factors and reductions to clients to spice up engagement.
“This new partnership will empower companies to be extra discoverable, broaden enterprise avenues and conduct commerce like by no means earlier than,” stated Nag. “Pandemic or not, we’re right here to reimagine the best way offline companies work and convey the digital revolution to the doorstep of each entrepreneur.”
DotPe says its platform, which doesn’t require companies to put in an app, has amassed over 5 million retailers within the final six months. These retailers are seeing over 38% of every day orders from repeat clients, the startup stated.
“In a really brief time, DotPe has acquired a promising service provider base with its impeccable product expertise and innovation,” stated Anirban Mukherjee, CEO, PayU India.
Sanjay Gupta, VP and Nation Head of Google India, stated in a press release that the corporate’s funding in DotPe is illustrative of Google’s perception in “working with India’s start-up ecosystem in direction of the objective of constructing a extra inclusive digital economic system that may profit everybody.”
Google introduced a $10 billion fund for India final yr, its largest market by customers. The Android-maker has invested in a number of startups within the nation together with hyperlocal supply agency Dunzo, InMobi Group’s Look, and DailyHunt.
DotPe stated it should deploy the contemporary capital to succeed in extra retailers in India and scale its expertise stack to fulfill the rising demand.
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