In a maiden funding round, retail tech start-up Shoopy has raised $250,000 seed funding from US-based Campanile Investments and Delhi-based investment firm Redcliffe Capital. Shoopy will be using the funds raised to accelerate its growth engine by optimizing its existing products, scaling its platform and business activities to reach out to more customers, and also to come up with newer offerings.
Co-founded by IIT-Roorkee alumni Amit Kumar and Indar Kriplani last January, Shoopy assists small and medium-sized enterprises to help take their businesses digital to help them compete with the country’s e-commerce giants, and to simplify the digital transformation journey for a diverse range of small retailers.
“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 Kumar, Co-founder, Shoopy.
A multilingual app, Shoopy helps retailers and local business owners go online in a few seconds, and manage invoicing, billing, inventory tracking and management, among other aspects of 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. It has recently launched the Shoopy consumer app, which helps buyers discover nearby stores around them on the platform.
Currently growing at 50 per cent month-on-month, Shoopy has a customer base of 40,000 retailers, who are dependent on the mobile app as the core system to manage and run their online business. On a monthly basis, these retailers are doing a business of over Rs 4 crore per month in total on the app.
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