GullyBuy Software Raises Rs 4 Crore Pre-Series A Funding
Published on 16th Sept, 2020 | 1 min read
Pune: Pune-based software startup GullyBuy Software said it had raised Rs 4 crore in Pre-Series A funding from SEED Enterprises and a few individual investors. “The funding will help our sales/marketing team to promote the app more aggressively and engineering to accelerate the product roadmap. This space has unlimited potential but is also highly competitive, and hence we continue to seek more funding,” said Shirish Deodhar, co-founder of GullyBuy Software. GullyBuy provides a unique digital hyperlocal marketplace solution that enables buyers to order online from nearby stores selling groceries, food, medicines and other daily necessities. “While offline-to-online retail solutions are proliferating, we decided to back GullyBuy because of their vision of empowering local stores, a segment that has been underserved by the digital economy. Others either enable standalone online stores or are logistics apps that bypass stores, while the e-commerce giants’ strategy is to effectively make them their agents,” said Siddharth Sethi, CEO of InfoBeans, who joins the GullyBuy board following the investment. GullyBuy’s mobile apps are aligned to the informal nature of the regular buy-sell transactions with local stores.
