Shailez Nag’s Startup Dot Raises $8 Million in Seed Round
The co-founder of PayU India, Shailaz Nag raises $8 million in seed funding for his new startup company Dot. Dot aims to use this funding for three main purposes namely, to hire the right talent, to acquire the right merchants and lastly, to educate the market to use this technology from the customer side. Many other startups and angel investors also participated in this round.
The founder of Dot, Shailaz Nag said, “There is a huge potential in the offline-to-online commerce and fintech sector, offering immense opportunities for the right product. India has the second largest number of internet users in the world and a rapidly increasing smartphone user base. This coupled with the recent digitisation push both from the government and the private sector is generating tremendous demand for digital transformation solutions by brick and mortar stores. I personally see a significant potential in this space, which has led to the conception of Dot.”
The founder of StartupLanes, Shishir Gupta says: The offline to online model of Dot makes it a unique startup venture. It is commendable to see the efforts of Dot in connecting the customers with their manufacturers. This seed funding will help develop Dot’s network of clients and help the startup grow. Congratulations to the entire Team.
Dot is a Gurugram based fintech company founded in May 2019, that provides a platform to offline enterprises to sell their products and services and engage with their consumers. The aim of Dot is to improve the efficiency process of the buying and selling process by incorporating technology in real life market opportunities.
The offline to online market has immense untapped potential and is a futuristic sector for startups.