• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Dukaan raises $11 million to help merchants in India set up online stores

September 6, 2021 by David Barret Leave a Comment

Dukaan, a one-year-old Bangalore-based startup that enables merchants to set up online stores and sell products digitally, said on Monday it has raised $11 million in a new financing round as it looks to broaden its offerings and deepen footprints in the South Asian market.

The new financing round, a Pre-Series A, was led by New York-headquartered 640 Oxford Ventures. Venture Catalyst, HOF Capital, Old Well Ventures, LetsVenture, 9Unicorns, and existing investors including Lightspeed Partners and Leopard Ventures also participated in the new round.

Ritesh Agarwal of Oyo and Carl Pei of Noting also invested in the new round, said the startup, which has raised over $17 million to date.

Dukaan provides individuals with no-code tools to set up digital presence. Once they have set up the store, they can manually add the inventory they have and start selling to their customers.

The process is straightforward and quick. “First you verify your email address or phone number and then you write your business or store name. And that’s it. Your digital store has been created,” said Suumit Shah, co-founder and chief executive of Dukaan, in an interview with TechCrunch.

For merchants operating in the grocery space, Dukaan also allows them to take pictures of their inventory and automatically logs them in the digital store. The startup also helps merchants accept digital payments.

Dukaan is largely tapping into India’s massive neighborhood market. More than 100 million Indians work in what is locally more popular as kiranas. These stores, in many cases, have been operational for decades.

A slide from Dukaan’s deck to investors, shared by one to TechCrunch.

In recent years, scores of firms including Reliance, Amazon and Flipkart have attempted to disrupt their business — to little to no success. In fact, most of these firms are now increasingly exploring ways to engage with these merchants.

But the way Dukaan has been developed, it can also be used by restaurants trying to get online, or teachers who are looking to set up their digital presence.

“All these digital stores, by default, get a mydukaan.io website, which they distribute among their customers and friends. This has helped our startup gain more recognition in the market,” said Shah.

The startup’s eponymous offering charges individuals or businesses as little as 699 Indian rupees, or $9.5, per year for its services. It also offers some premium plans such as Dukaan Infinity — as part of which it helps businesses conduct marketing on Facebook and Google and helps them rank better on Google search — and Dukaan Enterprise for big businesses.

Retail chain Big Bazaar and German personal care brand Nivea are customers of Dukaan Enterprise. “In case of Nivea, they have scores of distributors across the country. Now they are getting their distributors to sell the vast majority of their inventories to stores through Dukaan to bring more efficiency to the system,” he said.

“There is a massive white space opportunity to service the commerce needs of India’s 100 million+ small businesses and the Dukaan team with its strong product orientation and deep knowledge of the small business user is ideally positioned to lead the creation of new categories of commerce businesses in India,” said Akshay Bhushan, Partner at Lightspeed, in a statement.

This is a developing story. More to follow…

Source Link Dukaan raises $11 million to help merchants in India set up online stores

David Barret
David Barret

Related posts:

  1. Golf-Sagstrom left on verge of tears after rules row at Solheim Cup
  2. Hundreds of thousands of Indian farmers rally against farm laws
  3. Tennis-Matches resume after light rain at U.S. Open
  4. Brewers beat Cards on Daniel Vogelbach’s walk-off grand slam

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Orcas Filmed Kissing (With Tongues) In The Wild For The First Time
  • How Easy Is It For A Country To Change Its Time Zone?
  • Earth’s First Commercial Space Station Set To Launch In 2026
  • Black Hole Moon: Rogue Planets With Weird Signatures Could Be A Sign Of Advanced Alien Life
  • World’s Largest Ephemeral Lake Set To Turn Iconic Peachy Pink After Extreme Flooding
  • Stunning New JWST Observations Give Further Evidence That Dark Matter Is A Real Substance
  • How Big Is This Spider? Study Explains Why You Might Overestimate Their Size
  • Orcas Sometimes Give Humans Presents Of Food And We Don’t Know Why
  • New Approach For Interstellar Navigation Was Tested On A Spacecraft 9 Billion Kilometers Away
  • For Only The Second Recorded Time, Two Novae Are Visible With The Naked Eye At Once
  • Long-Lost Ancient Egyptian City Ruled By Cobra Goddess Discovered In Nile Delta
  • Much Maligned Norwegian Lemming Is One Of The Newest Mammal Species On Earth
  • Where Are The Real Geographical Centers Of All The Continents?
  • New Species Of South African Rain Frog Discovered, And It’s Absolutely Fuming About It
  • Love Cheese But Hate Nightmares? Bad News, It Looks Like The Two Really Are Related
  • Project Hail Mary Trailer First Look: What Would Happen If The Sun Got Darker?
  • Newly Discovered Cell Structure Might Hold Key To Understanding Devastating Genetic Disorders
  • What Is Kakeya’s Needle Problem, And Why Do We Want To Solve It?
  • “I Wasn’t Prepared For The Sheer Number Of Them”: Cave Of Mummified Never-Before-Seen Eyeless Invertebrates Amazes Scientists
  • Asteroid Day At 10: How The World Is More Prepared Than Ever To Face Celestial Threats
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version