- DotPe will use the funding to expand its market presence and scaling technology to meet the fast-growing demand.
- Investors including Google, PayU, and Info Edge, participated in the funding round.
- Earlier last month, The startup had raised $8 million in a Series A funding round.
Gurgaon-based DotPe, which helps businesses to digitize their operations, has raised $27.6 million (Rs 200 crore) in its second tranche of Series A funding round led by Naspers-owned PayU, InfoEdge, and Google. Through this round, InfoEdge Ventures has doubled down its investment and shareholding in the startup.
DotPe will use the latest funding to expand its market presence, accelerating product development, scaling technology to meet the fast-growing demand, the statement said.
The funding announcement comes almost two months after it raised $8 million in a Series A funding round in February 2021, led by PayU, Ruizheng Investments, InfoEdge Ventures, among angel investors.
Founded in 2020 by Shailaz Nag (Co-founder of PayU), Gyanesh Sharma, and Anurag Gupta (former Vice President, PayU), DotPe Private Limited, which owns and operates DotPe, helps offline businesses to digitize their operations such as sales, customer engagement, payments, ordering, through its technology commerce platform.
Since its inception, The startup successfully integrated over 10,000 merchants, including leading global and domestic food and beverage companies.
“We are thrilled to see our existing investors, PayU and Info Edge Ventures, backing our vision and doubling down on their funding as new business horizons open up. We are pleased to add Google, an innovation leader, as an investor, said Shailaz Nag, Co-founder & CEO of DotPe.
The latest funding would help the startup to reach more offline businesses to help them digitize their business operations through its technology platform. The startup said over 50,00,000+ Indian consumers have started ordering and buying from DotPe's merchants using its commerce platform. It currently has 1m+ downloads on the play store.
Commenting on the investment, Anirban Mukherjee, CEO at PayU India, said, "Under Shailaz’s leadership, we believe DotPe is positioned for rapid expansion as it disrupts and transforms the offline to online segment. They also align seamlessly with PayU’s vision of digitizing payments in India by enabling merchants of all sizes. We are thrilled to build on our initial investment and continue to support the company on its journey."
Sanjay Gupta, VP & Country Head, Google, said, We’re pleased to back young companies like DotPe that are supporting India’s digital transformation by connecting consumers and merchants through helpful, innovative tools. This investment under Google for India digitization fund underlines our belief in working with India’s start-up ecosystem towards the goal of building a more inclusive digital economy that will benefit everyone."