[Funding alert] Venture Catalysts invests in Pune-based omnichannel mobile phone retail brand GabbarDeals
Venture Catalysts invested an undisclosed amount into Pune-based, an Online-to-Offline (O2O) platform for mobile phones and accessories.
According to a statement from the company, the funding amount will be used by GabbarDeals to strengthen its operations, expand its services, and build new partnerships.
GabbarDeals was founded by serial entrepreneur Niraj Raka and co-founded by Poonam Gugale and Piyush Raka. The company works on a phygital (physical + digital) model that combines the advantages of both offline and online retail, creating a win-win situation for all players – brand, retailer, and consumer.
Sharing more on GabbarDeals, Niraj, who is also the company's CEO, said,
"When customers purchase a phone from an ecommerce platform, it takes at least 24 hours for the phone to get delivered. Taking into account the supply chain disruptions caused by the COVID-19 crisis, the delivery can even get delayed by a few days. Through GabbarDeals, however, customers will get their hands on the brand new phone within two hours. We have made this possible by bridging the gap between online and offline retailers. This way, Gabbardeals helps ecommerce platforms to cut down their logistics costs and offline stores to acquire a larger customer base.”
In February 2019, Bengaluru-based B2B ecommerce startup ShopX had acqui-hired GabbarDeals to establish a new class of retailers across Tier I, Tier II and Tier III cities. With the current investment, GabbarDeals has called off the deal with and started Gabbardeals.com
Commenting on the investment, Dr Apoorv Ranjan Sharma, Founder, Venture Catalysts, said,
"Within a short span of time, GabbarDeals has emerged as a promising player in the mobile retail space. Their omnichannel approach has proven to be effective and profitable, which gives them a winning advantage. This is besides the fact that all the co-founders of GabbarDeals are dynamic leaders and have shown exceptional growth in their own capacities. We are confident that it will fulfil its vision of becoming the fastest-growing omnichannel platform for mobile phones in India and globally."