September 19, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Online retail store Gobbly raises Rs 7.2 crore in angel funding round

Gobbly, an online store for fruits, vegetables and dairy products, has raised Rs 7.2 crore in funding for technology and business development, said the company on Tuesday.

The Pre Series A in angel funding was led by Anicut Angel Fund and Sauce.VC. Agility Ventures. Investors Kunal Shah (Cred), Anupam Mittal (People Group), Jitendra Bhandari (Nic Naturals), Sameer Chugh (Mosambee), and Mihir Agarwal, an entrepreneur, also participated in the round.

The company said it would use the funding to strengthen its position as one of the fastest-growing retail tech startups in India. Gobbly is a contactless retail store that places its products in gated societies.

“We are combining the convenience of online shopping with the instant gratification of real-world retail. Marry that to our strategy of maximizing captive spaces on the back of our indigenously developed tech stack and we get an unfair edge over our competition while catering to a huge commerce opportunity in apartments,” said Amit Ahuja, Co-founder of Gobbly.

“With this funding, we are now excited to tap the retail opportunity present inside residential apartments. These places are a hub of tech-savvy millennials with high purchasing power creating social communities in their own right, providing a perfect platform for Gobbly,” said Ankur Agarwal, co-founder of Gobbly.

Manu Chandra, Managing Partner, Sauce.VC, said, “Self-checkout technology is the future of retail, and Gobbly’s homemade tech is enabling consumers instantaneous gratification 24*7 in the most concentrated and captive affluent customer bases – societies and offices.”

Investment bank Dexter Capital was the exclusive financial advisor to Gobbly for the investment round.

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