The funds will be focused on strengthening the company's position as one of the fastest-growing retail tech startups in India
Gobbly—the platform of automated retail in apartments through self-checkout stores—on Tuesday announced that it has raised pre-Series A of INR 7.2 crore in Angel funding. In a round led by Anicut Angel Fund and, the funds will give a fillip to the company’s vision of making buying a safer experience for people in a post-COVID world. Agility Ventures and other notable angels like Kunal Shah (CRED), Anupam Mittal (People Group), Jitendra Bhandari (Nic Naturals), Sameer Chugh(Mosambee), and Mihir Agarwal(ex-PE professional and Entrepreneur) also participated in the round.
We are combining the convenience of online shopping with the instant gratification of real-world retail. Marry that to our strategy of maximizing captive spaces on the back of our indigenously developed tech stack and we get an unfair edge over our competition while catering to a huge commerce opportunity in apartments,” said Amit Ahuja, co-founder, Gobbly.
The fresh funds will be focused on strengthening the company’s position as one of the fastest-growing retail tech startups in India. It will further allow the company to use the capital for technology, business development, product innovation and development, and expansion.
“With this funding, we are now excited to tap the retail opportunity present inside residential apartments. These places are a hub of tech-savvy millennials with high purchasing power creating social communities in their own right, providing a perfect platform for Gobbly,” shared Ankur Agarwal, co-founder, Gobbly.
Founded by Amit Ahuja and Ankur Aggarwal, who are veterans in the on-site, on-demand retail space, Gobbly is a contactless retail store filled with farm-fresh fruits and veggies, and dairy products placed in societies. The duo realized that a 24x7, unmanned, and completely digital form of retail is the way to scale, powered by captive spaces such as residential and gated communities.
The pandemic has been a watershed moment for businesses, especially those having to do with e-commerce in any form. Gobbly is poised for accelerated growth because it deep dives into a pressing need – buying essentials with convenience and the highest degree of safety,” stated Ashvin Chadha, co-founder, Anicut Angel Fund.
Gobby has garnered high traction in terms of early engagement and retention and materialized key partnerships to reach scale, boost revenue and profitability. Leveraging data to optimize the supply chain, Gobbly has built-in features for easy scaling, as well as a legacy of multiple tech innovations that have led to huge cost reduction.
"Self-checkout technology is the future of retail, and Gobbly's homemade tech is enabling consumers instantaneous gratification 24x7 in the most concentrated and captive affluent customer bases - societies and offices. A very large opportunity that no delivery-based e-commerce player has been able to tap into yet," added Manu Chandra, Managing Partner,.
Investment bank Dexter Capital was the exclusive financial advisor to Gobbly for this said investment round.