Ecommerce giant Amazon acquires Bengaluru-based Perpule for $14.7 million

• The American E-commerce group Amazon has acquired Perpuple a cloud-based platform that improves the billing and checkout process at stores.
• Amazon Technologies paid the amount of $14.7 million to acquire the Indian startup Perpule.
• The startup left an impactful mark by creating strong of its offerings in Southeast Asian markets including Indonesia, Malaysia, Thailand, Singapore, and Vietnam.

Amazon has made an acquisition announcement of Indian based e retail company helping traditional retailers to create their presence in the digital space by making the company’s product available on the website for better reach and huge customer access. Amazon is a big Indian e retail market that is holding a healthy market share and India is the world's second-largest market after China that is seen as a highly profitable market by companies and where brick and mortar continue to drive more than 95% of sales.

The American e-commerce company on Tuesday of this week said it has acquired Bengaluru-based Perpule for $14.7 million. It has decided to pay an extra amount of $5 million or so to compensate Perpule’s employees.

The startup, which had raised funding of $6.36 million (per insight platform Tracxn), facilitates traditional retailers a digital mobile wallet that handles all the transactions taking place regularly and acquired mini various retailers including those who are using Paytm, PhonePe, and Google Pay in India.

 “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience,” an Amazon spokesperson said in a statement.

“We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”

Set up in late 2016 by Abhinav Pathak - Co-Founder, it is a cloud-based, mobile POS system that ameliorates the billing and store checkout process at traditional retail shops. the platform had raised $6.4 funding from 5 investors including individual and venture capital firms before Amazon acquired it.

The Bangalore-based startup — which counts Prime Venture Partners, Kalaari Capital, and Raghunandan G (founder of neobank Zolve) among its investors — has further expanded in recent years, launching products like StoreSE, which enables a business to support group ordering.

Last year with an effective expansion strategy the startup left an impactful mark by creating strong of its offerings in Southeast Asian markets including Indonesia, Malaysia, Thailand, Singapore, and Vietnam.

Amazon has aggressively engaged with physical stores in India in recent years, using its vast presence in the nation to expand its delivery network and warehouses and even just relying on its inventory to drive sales.

The company’s push into physical retail comes as Flipkart, and Reliance Jio Platforms (backed by Facebook and Google), which last year raised over $20 billion, also race to capture this market. The acquisition of Perpule comes less than a week after Google backed DotPe, a startup that offers several similar products.

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