Google’s latest investment in India is a startup that is helping businesses come online.
The one-year-old Gurgaon-based one-year-old Dotpe said on Friday he raised $ 27.5 million in his Series A financing round. The round was led by PayU, with participation from existing investors Info Ventures and Google.
The young startup, now valued at about $ 90 million, helps brick and mortar store customers sell online and collect payments digitally.
This is a problem that scores of startups in India are solving today, but DotPe has some additional hooks. This helps merchants scan their inventory and quickly set up a log online.
Once the catalog is ready, a business can make it available on WhatsApp and reach customers there. WhatsApp is the most popular smartphone app in India with over 450 million users. DotPe says it also helps businesses gain visibility on Google search.
The startup, co-founder, Shailu Nag, formerly co-founder and managing director of PayU, also provided loyalty points and rebates to customers to collect payments from walk-in customers from neighborhood stores and boost engagement. Enables to provide the tools to do.
“This new partnership will empower businesses to be more discoverable, expand business opportunities and conduct commerce,” Nag said. “Epidemic or not, we are here to see the way offline businesses work and bring a digital revolution to every entrepreneur’s doorstep.”
DotPe says that its platform, which does not require businesses to install the app, has amassed more than 5 million merchants in the last six months. The startup said that these merchants are seeing more than 38% of orders of daily customers.
“In a very short period of time, DotPe has acquired a promising merchant base with its impeccable product experience and innovation,” said Anirban Mukherjee, CEO, PayU India.
Google India VP and Country Head Sanjay Gupta said in a statement that the company’s investment in DotPe is “an illustration of Google’s belief in working with India’s start-up ecosystem towards the goal of building a more inclusive digital economy that Will benefit everyone. ” “
Google announced a $ 10 billion fund for India last year, its largest market by users. The Android-maker has invested in several startups in the country, including hyperlocal delivery firm Dunzo, InMobi Group’s Glance, and DailyHunt.
DotPe said it would deploy the new capital to expand its technology stack to reach more merchants in India and meet growing demand.