March 04 2021: Delhi NCR-headquartered retail tech start-up for Indian SMBs, Shoopy has raised an undisclosed amount of seed capital from US-based Campanile Investments LLC and Delhi-based investment firm Redcliffe Capital. This is Shoopy’s maiden funding round since the start-up’s inception in January 2020; Shoopy will be using the funds raised to accelerate its growth engine by optimizing its existing product(s), scaling its platform and business activities to reach out to more customers/users, and also to come up with newer products/offerings in the near future.
Shoopy — co-founded by IIT-Roorkee alumni Amit Kumar and Indar Kriplani provides an all-encompassing suite for SMB owners to help take their businesses digital and increase/grow their revenues. The start-up is on a mission to give local/small retailers across India the ‘tech advantage’ in a bid to help them compete with the country’s online e-commerce giants, and to simplify the digital transformation journey for a diverse range of SMBs.
Shoopy plans to change the tech landscape for SMBs in India with the support of all their investors Shoopy plans to change the tech landscape for SMBs in India with the support of all their investors i.e. Ajit Pai – Pai Paipal Ventures, Ambuj Chaudhary – Campanile Inverstments LLC, Dheeraj Jain - R Redcliffe Capital, Nitin Passi – Lotus Herbals, Manjoj Mehta – MTC Group and Sunil Kumar Sighvi – South Handlooms.
The Idea for Shoopy sparked in the year of 2016-17 when Amit was working at India's leading online eyewear firm. Wherein he interacted with multiple vendors and realized that the vendors are having very limited softwares available to run their business digitally. These softwares are expensive and difficult to operate. In turn, impacting their business.
On the funding, he shares, “We are delighted to announce our first-ever seed funding; the capital raised through this round will be instrumental in helping us optimize and scale our existing products and business. We are also ramping up our team and planning to launch more products and functionalities for our target audience. The SMB sector in India has been mostly unorganized and deprived of technology so far, and we at Shoopy are constantly striving to change the scenario by ensuring that the best, easy-to-use and most-affordable technology solution(s) is available to each and every SMB in India.”, Amit Kumar, Co-founder, Shoopy.
Within a short span of around one year, Shoopy has already developed a loyal customer base of 40,000+ retailers and/or SMB owners pan-India, who are depending on Shoopy’s mobile app as the core system to manage and run their online business. As of date, on a monthly basis the retailers on Shoopy’s platform are doing business of over 4 Crore per month. On the other hand, Shoopy is currently witnessing 50% month-on-month growth, and the start-up is hoping to continue the momentum and onboard more and more retailers/business owners on its flagship platform (app) in the upcoming months.