DotPe funding

Gurgaon-based offline-to-online commerce platform DotPe, on Friday, stated that it has secured $27.5 million in Series A funding, making it the first O2O company in India to get such a large amount within a year of inception.

The round was led by its existing investor, PayU, the payments and fintech business of Prosus, raising the current 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.

According to a press statement, the freshly raised funds will be used towards boosting product development, market expansion, and improving technology to meet the fast-growing market demand.

Kitty Agarwal, Partner, Info Edge Ventures stated, “DotPe has seen rapid adoption by merchants across industries- enterprises and SMBs- within a year of launch. The product experience and merchant and consumer stickiness are best-in-class with many marquee brands now expanding use cases with them and integrating even more deeply. We see DotPe as an integrated commerce and fintech platform that empowers merchants and enables them to control their digital presence, discoverability, commerce, payments, etc. to complete their offline-to-online journey and are excited about the possibilities ahead.”

On the SMB front, their product Digital Showroom has on-boarded over five million merchants within six months of inception in September 2020. The product allows merchants to sell online by building a digital storefront and taking orders through WhatsApp.

Speaking about the new investment, Shailaz Nag, Co-founder, DotPe, said, “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 allow businesses to be more discoverable, extend business avenues, and conduct trade like never before. Pandemic or not, we are here to reimagine the way offline businesses run and bring the digital revolution to the doorstep of every entrepreneur.

Commenting on the development, Anirban Mukherjee, CEO, PayU India, said, “In a very short time, DotPe has acquired a promising merchant base with its impeccable product experience and innovation. We have always believed in fostering innovation by working with such disruptive, early-stage startups.

“Under Shailaz’s leadership, we believe DotPe is positioned for rapid expansion as it disrupts and transforms the offline to online segment. They also align seamlessly with PayU’s vision of digitizing payments in India by enabling merchants of all sizes. We are thrilled to build on our initial investment and continue to support the company on its journey.”

Founded by PayU Founder Shailaz Nag, with Gyanesh Sharma and Anurag Gupta in 2020, DotPe has successfully digitized enterprises as well as SMB customers via a full-stack solution — from providing them an online presence to facilitating seamless ordering (in-store and remote), online payments, and delivery.

“In the last few months, we’ve seen an acceleration in offline players seeking to move their businesses online. We’re pleased to back young companies like DotPe that are supporting India’s digital transformation by connecting consumers and merchants through helpful, innovative tools. This investment under Google for India digitization fund underlines our belief in working with India’s start-up ecosystem towards the goal of building a more inclusive digital economy that will benefit everyone,” said Sanjay Gupta, VP & Country Head, Google India.