Mumbai-based Zepo Technologies Pvt Ltd, the startup behind Zepo.in, a do-it-yourself (DIY) e-commerce platform for SMBs, has secured an undisclosed amount in funding led by Anupam Mittal, CEO of People Group, which operates the internet properties including Shaadi.com and makaan.com. The round also saw participation from One97 Mobility Fund.
The startup will use the capital raised to expand its presence in existing markets as well as to explore new overseas markets.
Zepo was founded in 2011 by serial entrepreneur Nitin Purswani. He had earlier founded two companies—Bijess.in, a platform that helps bloggers setup their e-commerce stores, and Avatar T Shirts.
Zepo helps small businesses set up their own online stores. The startup claims that Zepo can help an SMB to open its online shop in a few minutes for under Rs 999 per month. It also provides them free payment gateway, logistics support and marketing. With 20 employees on board, Zepo has offices in Delhi and Bangalore.
The firm mainly competes with Nirvana Venture Advisors-backed KartRocket.com, besides MartMobi, Shopify and CostPrize.
One97 Mobility Fund is a $100 million fund that invests across seed, early- and growth-stage companies with average deal size ranging from $500,000 to $5 million. It supports companies focused on serving the Indian markets and leverage mobile as a key delivery medium for customers and enterprises. These include device apps, location-based services,
m-commerce, video and content aggregation.
In September, One97 participated in a $1.1 million funding round in TargetingMantra, a data analytics and personalisation service for online stores. Its other portfolio companies include MobiSwipe, Chotu.in, Plivo, Engrave, iimjobs, Dexetra and AppSurfer.
(Edited by Joby Puthuparampil Johnson)