Omni-channel retail tech startup, Perpule has raised $4.7 million in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Perpule intends to use the funds for significant expansion into thousands of retail outlets across 10 cities in the next year.
According to a statement from the company, Perpule, which also claims to be India’s first self-checkout enabler, is used by more than 500,000 consumers across several of India’s top retail brands for its Self-Checkout and Omni-channel solutions.
Founded in October 2016 by Abhinav Pathak, Saketh BSV and Yogesh Ghaturle, Perpule previously raised a seed round of $650K from Kstart, the seed fund of the Kalaari Capital, Venture Highway and Raghunandan G in 2017.
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. The Company has also partnered with HyperCITY to bring India’s first “cashier-less, cash-till less” store.
“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,” Abhinav Pathak, cofounder and CEO, Perpule said in a statement.
Perpule offers Self Checkouts and Self Ordering solutions for offline stores, food outlets, malls and cafeterias to help improve the experience of customers, reducing queues at checkouts and make 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.
“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,” Vani Kola, Managing Director, Kalaari Capital said.
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 allows its users to self-order and collect ensuring a hassle free and queue-less experience while eating. The solution is currently being used by more than 20 companies across India.
“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,” Sanjay Swamy, Managing Partner, Prime Venture Partners said.
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.