Perpule, the Bengaluru-based omnichannel retail technology startup has raised INR 34 crores ($4.7 million) in series A round of funding from Prime Venture Partners, Venture Highway and Kalaari Capital. Kalaari Capital and Venture Highway are the existing investors in the startup as they have earlier funded the firm.
The startup plans to utilize the fresh capital to expand into more outlets across 10 Indian cities over the upcoming year. Founded by Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle in 2016, Perpule has grown itself to offer an app-based self-checkout product for offline stores which avoid queues at checkout counters and enhances customer experience.
Talking about the investment, 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.”
Perpule has partnerships with retailers like Big Bazaar, Vishal Mega Mart, SPAR, HyperCITY, MORE as well as quick-service restaurants like KFC. Recently, the retail tech firm has launched a digital cafeteria solution QSRs which includes cafeterias and food courts in corporate tech parks and shopping malls.
On the partnership and future growth, Vani Kola, Founder and Managing Partner, Kalaari Capital, said, “Perpule growing significantly in their customer base in the last 18 months is a testament to the disruptive Online to the Offline solution they have built.”
Earlier this year in March 2017, Perpule raised $650,000 in seed funding from Kstart, the seed fund of Kalaari Capital, Venture Highway and Raghunandan G, co-founder of TaxiForSure.
According to an IBEF report, the retail industry in India is expected to grow at 60 per cent CAGR to touch $1.1 trillion marks by 2020. The factors leading to this extraordinary development includes rising income and improved lifestyles of the middle class and enhancement in the telecommunications and digital connectivity.