Ecommerce enabler Zepo raises funding from Anupam Mittal & One97 Mobility Fund
Ecommerce enabler Zepo has raised an undisclosed amount of funding, led by Anupam Mittal, CEO of People Group and existing investor, One97 Mobility Fund. Following the investment Anupam will join the board of the company. The company will use funds to aggressively concentrate on strengthening its base in current markets as well as explore new overseas markets. Zepo had earlier raised undisclosed amount from One97 Mobility Fund.
One97 Mobility Fund is a $100 million fund that invests across seed, early and growth stage companies across domains like location-based services, m-commerce, device apps among others.
Zepo allows businesses to setup stores online. Founded by Nitin Purswani in 2011, Zepo is a Morpheus Gang company and has been growing steadily over the last few years with more than 1200 e-commerce stores running on Zepo at the moment.
From being an e-commerce platform to becoming a complete online selling solution, Zepo offers everything from integrated payment gateways to marketing support. It also has its own logistics solutions ZePOST.
“We plan is to exponentially grow the current sales team from 20 across three cities to 100 across four cities in the next one year,” said Nitin Purswani, CEO, Zepo.
The Mumbai based company competes with Buildabazaar, Martjack, KartRocket including several others. In October KartRocket raised around $2 million in its Series A investment from Nirvana Venture Advisors, 500 Startups and Japan-based Beenos (NetPrice).
This year, it started two new offices in Delhi and Bangalore. The company said it has plans to position itself as the leading e-commerce platform providers in India, while introducing new features and enhancements on Zepo.