Ecommerce enabler Zepo has raised an undisclosed amount of funding,
led by Anupam Mittal, CEO of People Group and existing investor, One97
Mobility Fund. Following the investment Anupam will join the board of
the company. The company will use funds to aggressively concentrate on
strengthening its base in current markets as well as explore new
overseas markets. Zepo had earlier raised undisclosed amount from One97
Mobility Fund.
One97
Mobility Fund is a $100 million fund that invests across seed, early
and growth stage companies across domains like location-based services,
m-commerce, device apps among others.
Zepo allows
businesses to setup stores online. Founded by Nitin Purswani in 2011,
Zepo is a Morpheus Gang company and has been growing steadily over the
last few years with more than 1200 e-commerce stores running on Zepo at
the moment.
From
being an e-commerce platform to becoming a complete online selling
solution, Zepo offers everything from integrated payment gateways to
marketing support. It also has its own logistics solutions ZePOST.
“We
plan is to exponentially grow the current sales team from 20 across
three cities to 100 across four cities in the next one year,” said Nitin
Purswani, CEO, Zepo.
The Mumbai based company competes with Buildabazaar, Martjack, KartRocket including several others. In October KartRocket raised around $2 million in its Series A investment from Nirvana Venture Advisors, 500 Startups and Japan-based Beenos (NetPrice).
This
year, it started two new offices in Delhi and Bangalore. The company
said it has plans to position itself as the leading e-commerce platform
providers in India, while introducing new features and enhancements on
Zepo.
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