[Funding alert] Prabhuji Online raises pre-series A round funding from angel investors
Hyper local delivery startup Prabhuji Online on Wednesday said it has raised funding in pre-Series A round from Singapore and India-based angel investors.
The company, however, did not disclose the value of the funding.
Prabhuji Online, which is into hyper local delivery of fresh flowers and prayer items 'pooja samagri', said it plans to expand into providing 'Panditji Services' to home, organising devotional singers as well as religious and spiritual tourism going forward.
With the fresh round of funding, former director of LG India and Croma, Rahul Tayal; ex-Director of ANZ Grindlays Bank Australia Saahil Mohta; Director of Deutsche Bank Singapore Prashant Tayal; Saumya Bajaj of World Bank; Ice Cube Holidays Managing Director Jaspreet Bhatia and IT industry veteran Sumit Keshav have come on board as investors, Prabhuji Online said in a statement.
Prabhuji Online Co-founder and CEO Manishpal Singh said, "This is a really strategic investment for us as we have got some exceptional investors on board who will bring a lot of value to the company with their rich experience."
With the fresh funds, he said, "We will now expand our footprint to different cities like Raipur, Delhi and Jaipur in 2021 as our immediate plan of execution. Despite the COVID-19 pandemic, we still have been able to serve the daily spiritual and devotional needs of our customers."
The company said it has so far completed more than 30 lakh successful deliveries in Kolkata, catering to customers' everyday essentials for religious and spiritual needs.
Rahul Tayal has joined the board as a director and will look after the marketing and branding strategy part of the business, it said.
Angel investor Ujjwal Deepak, who has also previously invested in the company, participated in the current round and has increased his stake, Prabhuji Online said.