Retail tech start-up - Shoopy bags its maiden seed funding of $250,000

By VARINDIA - 2021-03-08

Retail tech start-up - Shoopy bags its maiden seed funding of $250,000

The retail tech start-up for Indian SMBs, Shoopy has raised 250,000 USD seed funding from US-based Campanile Investments LLC and Delhi-based investment firm Redcliffe Capital. This is Shoopy’s maiden funding round since the start-up’s inception in January 2020.

 

“We are delighted to announce our first-ever seed funding; the capital raised through this round will be instrumental in helping us optimize and scale our existing products and business. We are also ramping up our team and planning to launch more products and functionalities for our target audience. The SMB sector in India has been mostly unorganized and deprived of technology so far, and we at Shoopy are constantly striving to change the scenario by ensuring that the best, easy-to-use and most-affordable technology solution(s) is available to each and every SMB in India,” said Amit Kumar, Co-founder, Shoopy.

 

The funds raised will be used to accelerate its growth engine by optimizing its existing product(s), scaling its platform and business activities to reach out to more customers/users, and also to come up with newer products/offerings in the near future.

 

Shoopy - co-founded by IIT-Roorkee alumni Amit Kumar and Indar Kriplani provides an all-encompassing suite for SMB owners to help take their businesses digital and increase/grow their revenues. The start-up is on a mission to give local/small retailers across India the ‘tech advantage’ in a bid to help them compete with the country’s online e-commerce giants, and to simplify the digital transformation journey for a diverse range of SMBs.

 

Shoopy plans to change the tech landscape for SMBs in India with the support of all their investors i.e. Ajit Pai – Pai Paipal Ventures, Ambuj Chaudhary – Campanile Inverstments LLC, Dheeraj Jain - R Redcliffe Capital, Nitin Passi – Lotus Herbals, Manjoj Mehta – MTC Group and Sunil Kumar Sighvi – South Handlooms.

 

Indar Kriplani, Co-Founder, Shoopy says, “I come from a business family. My father has a grocery shop which has been running for 60 years now. Growing up, my daily task would be to go to nearby shops to collect due payments for goods sold whilst picking up business skills. Post working in Yahoo Small Business US from 2014 till 2019. I finally decided to move back to India to pursue my startup dream with Shoopy. As the e-commerce boom has changed customer behaviour in our country in recent years, it has become imperative for SMBs to adopt modern technology(ies) to stay relevant. Furthermore, the Covid-19 pandemic through the last one year has clearly shown us that taking the online route for sustaining and growing one’s business is no longer a choice, but a dire necessity. At a time like this, we at Shoopy are bridging the gap in the market by offering a state-of-the-art, full-stack solution dedicated to small and mid-size businesses, thereby taking care of all their diverse needs/requirements when it comes to digitization of their businesses.”

 

Within a short span of around one year, Shoopy has already developed a loyal customer base of 40,000+ retailers and/or SMB owners pan-India, who are depending on Shoopy’s mobile app as the core system to manage and run their online business. As of date, on a monthly basis the retailers on Shoopy’s platform are doing business of over 4 Crore per month. On the other hand, Shoopy is currently witnessing 50% month-on-month growth, and the start-up is hoping to continue the momentum and onboard more and more retailers/business owners on its flagship platform (app) in the upcoming months.

 

Shoopy’s free-of-cost business app helps retailers and local business owners go online in a few seconds, and in managing (invoicing, billing, inventory tracking and management, among other aspects) their shops easily. Apart from the business app, the team also provides a free platform named ‘PhoneKhata’ for retailers, vendors, and other SMBs to manage their ledger, and has also recently launched the ‘Shoopy consumer app’, which helps consumers/buyers to discover nearby stores around them on the Shoopy Platform. Shoopy’s app is multilingual (available in Hindi, English and Hinglish languages), easy-to-use and truly made for Indian retailers.

 

Highlights of Shoopy:

 

● Business Growth by providing a complete e-commerce solution to SMBs along with online payment and a highly customised and intuitive online ordering platform

● Business Management like Invoicing, inventory or ledger management.

● Connecting local sellers with their buyers. This helps in communication offers & promotion at the same time taking feedback on services offered

● Branding and Personalisation, aiming to help the retailers in their technology adoption journey. Shoopy ensures that business is truly personalised and the same trust is maintained while doing business online.


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