Perpule Raises $4.7 million in Series A to Fuel Omni-Channel Retail & Consumer Commerce in India
Funding led by Prime Venture Partners; participation from Kalaari Capital and Venture Highway
Perpule, an Omni-channel retail tech company and India’s first self-checkout enabler, has raised $4.7 Million in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Today more than 500,000 consumers are using Perpule across several of India’s top retail brands for its Self Checkout & Omni-channel solutions. Perpule intends to use the funds for significant expansion into thousands of retail outlets across 10 cities in the next year. Perpule is working with leading retailers like Big Bazaar, Vishal Mega Mart, SPAR, MORE, HyperCITY, etc. and Quick Service Restaurants (QSRs) such as KFC, etc. amongst others.
Perpule gives the control of offline commerce in the hands of customers by enabling Self Checkouts and Self Ordering solutions for offline stores, food outlets, malls & cafeterias. This improves the experience of customers, reduces queues at checkouts and makes stores smarter. Customers use it to discover items, scan barcodes, get all the offer and pricing information for the products and can also checkout and pay in the app itself. Shoppers find it more convenient to Self Checkout with the easy-to-use Perpule app, available on Android and iOS. The Company has also partnered with HyperCITY to bring India’s first “cashier-less, cash-till less” store.
The company recently launched the Perpule Digital Cafeteria Solution for QSRs which include cafeterias and food courts in corporate tech parks and malls. Perpule Digital Cafeteria gives its users the power and convenience of Self order & collect ensuring a hassle free and queue-less experience while eating. This solution also empowers the food vendors to increase their operational efficiency and overall business. The solution is currently being used by more than 20 companies across India.
The Indian Retail Industry is considered to be one of the most dynamic in the world and is the world’s fifth-largest global destination in the retail space. According to an IBEF report, retail market in India is projected to grow from US$ 672 billion in 2017 to US$ 1.1 trillion in 2020. In a bid to serve one of the largest consumption markets in the world, prominent brands in India are moving towards Omni-channel retailing; a fully-integrated approach to shopping to provide consumers a unified experience across online and offline platforms. Reports also indicate that the size of modern retail is expected to witness a substantial rise, from the current 19% to 24% in the next three years in the top six retail markets of the country, driven largely by Omni-channel retailing.
Perpule is focussed on building solutions for Omni-channel retail which will enable the transformation of the Indian retail industry. The focus of the company will be to launch
products which will enable brands to provide seamless customer experience, both online and offline. The retail-tech startup was founded in October 2016 by Abhinav Pathak, Saketh BSV and Yogesh Ghaturle. The company had previously raised a seed round of $650K from Kstart, the seed fund of the Kalaari Capital, Venture Highway and Raghunandan G in 2017.
The Perpule app is currently available in English on Google Playstore and Appstore.
Abhinav Pathak, CEO & cofounder, Perpule
“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 platforms. We have seen immense interest and excitement around Perpule from the customers and retail brands and our goals is to make their experience even better.”
Sanjay Swamy, Managing Partner, Prime Venture Partners
“Retail shopping is the next playground for disruptive innovation and is being transformed around the world, as (millennial) consumers demand a friction-free experience. 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.”
Vani Kola, Managing Director, Kalaari Capital
“Perpule growing significantly in their customer base in the last 18 months is a testament to the disruptive Online to Offline solution they have built. Tailor made to suit Indian retail conditions, the platform adds significant value to offline retailers. We’re excited to continue backing the team and are looking forward to achieving more milestones together.”
Vivek Biyani, Director, Future Group
“We have been working with Perpule for over an year now and are really happy with the team. Their Next-Generation platform is built with the right focus to support the growing needs of Modern Retail and we see it being adopted across our brands. We are happy to be a part of their journey in building next-generation retail together!”