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Gurgaon-based offline-to-online commerce platform, DotPe, announced on Friday that it has raised $27.5million in Series A funding.
The round was led by its early investor, PayU, the payments and fintech business of Prosus, resulting in an increase in the existing stake in the company. Info Edge Ventures has doubled down on its seed investment in the company made last year and more than doubled its shareholding. Google joins as a new investor.
Started by ex-PayU founder Shailaz Nag with Gyanesh Sharma and Anurag Gupta in 2020, DotPe digitises enterprise as well as SMB merchants through a full stack solution — from giving them an online presence to enabling seamless ordering (in-store and remote), online payments and delivery. On the enterprise side, it has deep integration with 10,000+ restaurants and food courts, including leading global and domestic F&B brands.
On the SMB front, it’s product —Digital Showroom — has on-boarded over 5 million merchants within 6 months of launch in September 2020. The product enables merchants to sell online by creating a digital storefront and accepting orders through WhatsApp. In the last 12 months, over 5 million Indian consumers have switched to the hassle-free way of ordering and buying from DotPe’s merchants using its platform. Over 38 per cent of orders daily are now through repeat consumers.
“We are thrilled to see our existing investors, PayU and Info Edge Ventures, backing our vision and doubling down on their funding as new business horizons open up. We are pleased to add Google, an innovation leader, as an investor. This new partnership will empower businesses to be more discoverable, expand business avenues and conduct e-commerce like never before. Pandemic or not, we are here to reimagine the way offline businesses work and bring digital revolution to the doorstep of every entrepreneur” said Shailaz Nag, co-founder, DotPe.
DotPe has made some key hires in the recent months. The fresh funding will be deployed towards accelerating product development, market expansion and scaling technology to meet the fast-growing market demand.
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