Perpule, a Bengaluru-based omnichannel retail tech startup, has raised $4.7 million in its Series A funding round from Prime Venture Partners, Kalaari Capital and Venture Highway. A significant portion of the newly raised funding will be used by the company for expansion into thousands of retail outlets across 10 cities in the next year.
Abhinav Pathak, CEO and co-founder, Perpule, said,
This is a great milestone for us and we are delighted to partner with Prime and continue our relationship with Kalaari and Venture Highway. Omnichannel retail and consumer commerce will redefine the shopping experience for customers. We believe that using the right technology and the power of mobile, we can better such experiences and build solutions which work seamlessly across all platform.
Commenting on this, Sanjay Swamy, Managing Partner, Prime Venture Partners said,
Perpule has quickly established itself as the leader in India – as evinced by the top brands that are already partnering them, and innovations such as the cashier-less stores that they have helped bring to market. We’re excited to collaborate with the young and dynamic team of Abhinav, Saketh and Yogesh as well as Kalaari & Venture Highway in charting the next phase of growth of Perpule.
The startup was founded in 2016 by Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle. It has created a payment platform which allows customers to scan barcodes at stores and make payments digitally, avoiding queues at payment counters.
Prior to this Series A funding round, the company had raised a seed round of $650,000 from Kstart, the seed fund of the Kalaari Capital, Venture Highway and Raghunandan G in March last year.
It is currently working with retailers like Big Bazaar, Vishal Mega Mart, SPAR, MORE, HyperCITY, etc. It has also launched Perpule Digital Cafeteria Solution for QSRs which include cafeterias and food courts in corporate tech parks and malls.