Amazon Technologies acquires retail tech startup Perpule for Rs 107 Cr
Perpule is a Bengaluru-headquartered startup whose flagship product is UltraPOS, a cloud-based mobile point-of-sale digital platform, is used by offline retailers.
Amazon Technologies Inc, which is part of global ecommerce company Amazon, has acquired Perpule, a Bengaluru-headquartered retail tech startup for Rs 107.60 crore.
This development was disclosed through the regulatory filings made by Perpule. It is expected that the total deal value may rise to Rs 150 crore as Amazon is expected to pay additional remuneration for the employees of Perpule.
A statement from Amazon spokesperson said,
“Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”
As part of this transaction, Amazon Technologies has acquired Perpule’s cloud-based point-of-sale IP asset called Ultra POS and the POS team is joining Amazon.
Founded in 2016 by Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle, Perpule has raised $6.4 million from investors including Prime Venture Partners, Kalaari Capital, and Venture Highway.
Perpule’s Ultra POS is a cloud-based mobile point-of-sale system that improves the billing and checkout process at online stores. This solution, which has been used by retail brands such as Vishal Mega Mart, Big Bazaar, as well as Marks and Spencer’s, helps in increasing their sales, thereby generating revenue.
Perpule had also launched a group ordering tech platform called StoresSE last year in order to make purchases from nearby stores. This was in response to the challenges faced during the COVID-19 lockdown.
This acquisition by Amazon highlights the importance that the global ecommerce major is putting into offline retail as it looks to strengthen its hold in the Indian market.
Amazon has already pledged to invest $1 billion to digitise 10 million SMBs, enable ecommerce exports worth $10 billion, and create one million incremental jobs by 2025.
Edited by Kanishk Singh