You are here: Home » Companies » News
Business Standard

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

The company said it would use the funding to strengthen its position as one of the fastest-growing retail tech startups in India

Topics
E-commerce firms | Online grocery | fundings

BS Reporter  |  Mumbai 

Grocery shopping
Gobbly is a contactless retail store that places its products in gated societies.

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.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 14 2021. 12:44 IST
RECOMMENDED FOR YOU
.