Combonation, raises pre-seed funding worth $2 million in its latest funding round.
The Delhi-based start-up has closed a USD 2 million deal in its pre-institutional seed round from an as yet undisclosed group of private investors.
The company intends to utilize the funds mostly for their expansion, including technology and hiring. Additionally, the firm is also looking to roll out over 50 offline retail stores across Delhi NCR in the next six months. The business added that it has established a plan to expand to more than 100 locations in Northern India.
Saurabh Nanda, a serial entrepreneur and promoter of a well-known brand, Coloressence, which has a presence both nationally and internationally, supports the e-commerce platform that provides the greatest combination of deals on several brands at unbelievable discounts.
Pooja Sodhi, the company's co-founder, has led branding and marketing projects for tech titans such as Apple and Samsung. Combonation, India’s leading and one-of-a-kind business combo-deal destination, is her brainchild.
The primary goal of Combonation's inception was to prevent pricing discrepancies from disrupting business for the firms that had signed on. Because of the large discounts offered in the online format, combinations of products make it impossible to compare prices across different items.
Saurabh Nanda, Founder and MD, adds, "Pricing parity is the number one goal for any CEO or management across online and offline platforms, which unfortunately is impossible with different pulls and pressures of online and offline, leading to either disgruntled trade members and downward pricing pressures or the need for a separate range all together for offline and online channels, leading to inventory pressures. Combonation alleviates the trade imbalance and promotes peace across online and offline trade platforms with deep discounts without the disclosure of individual prices of a single SKU or brand, thereby keeping both the consumer and trade happy with the air of ambiguity and exciting offers."