MSME

Gully Network Retail raises Rs 5 crore in seed funding

Our Bureau Mumbai | Updated on November 27, 2019 Published on November 27, 2019

Gully Network Retail, a tech-enabled chain of small-format kirana stores, has raised Rs 5 crore in seed funding from Orios Venture Partners.

Orios is one of India’s leading seed-stage venture capital fund.

Gully Network develops a tech-enabled platform for a small-format business to be converted into an omni-channel modern store to help them compete against biggies.

Gully Network has been founded by Ajay Nain and Prateek Chaturvedi, alumni of IIT Madras and IIM Ahmedabad.

Anup Jain, Managing Partner at Orios Venture Partners said, “Indian grocery retail market is approximately 70% of total retail market in India today- a staggering $500 billion per annum. However, we have seen little transformation on ground in the 15 million small format kirana stores which comprise over 90% of this market even today."

Published on November 27, 2019
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