Investors are Silicon Valley-based Plug and Play Tech Center and Steelhead Ventures
ShoppinPal, a Pune based retail tech startup, has announced that it has raised US$1.07 million in its first round of equity funding, led by Plug and Play Tech Center and Steelhead Ventures.
A few other unnamed strategic investors also co-invested in the round.
The startup will use the funds to get more retailers on board, and for product development and brand building.
ShoppinPal enables retailers and brands to capture new sales by connecting them with digital platforms such as online marketplaces. The firm has taken a novel approach of integrating with leading global retail (POS/ERP) systems, which makes it simple for customers to enable digital and mobile experiences without disrupting their operations.
ShoppinPal work with top online marketplaces in India and leading global POS companies such as Vend.
Sriram Subramanian, Co-founder and CEO of ShoppinPal, said, “With our success in other markets like US, adequate funds and required guidance from our investor partners, we are confident of establishing ShoppinPal as a leading retail tech player in the country.”
Alireza Masrour, Managing Partner, Plug and Play Tech Center, said, “ShoppinPal’s innovative platform connects retailers and brands to the digital world and helps them further enhance sales. We see a huge potential for them in India and are confident that with our support they will replicate their overseas success in the country.”
Plug and Play Tech Center is headquartered in Silicon Valley and has a huge network of serial entrepreneurs and strategic investors. The company has also been instrumental in the growth of market leaders such as PayPal, Google, DropBox, etc.
Steelhead Ventures is a micro VC fund focused on seed-stage and Series A investments.
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