Peel-Works, a platform for retailers, has raised $5 million in Series B — led by Equanimity Ventures, along with HDFC Bank, Bruno Raschle and existing investors Unilever Ventures, Chiratae Ventures and Inventus Capital India.
Mumbai headquartered Peel-Works said it will strengthen its retail management platform Taikee. Taikee, a grocery B2B e-commerce platform, is designed to help 12 million small shops with its data-driven inventory and replenishment platform.
Taikee, which enables retailers to discover brands at low prices, is live in more than 16 cities with 20,000 retailers using the platform to improve their sales, basket-fill and profitability.
Peel-Works will utilise funds to expand its footprint to other geographical markets. Peel-Works will also use funding to expand business across 25 cities and onboard 100,000 retailers over the next six to twelve months.
“Taikee helps retailers grow faster, retain their customers and improve their profitability. The platform helps the retailer to right-size his assortment, buy it cheaper, and adopt technology that makes it convenient for shoppers to transact with him,” Sachin Chhabra, founder and CEO of Peel Works, said.
Taikee has nearly 20,000 registered retailers and services including Delhi/NCR, Mumbai, Jaipur, Chandigarh, Bangalore, Pune, Mysore and Chennai.
Peel-Works is founded by Sachin Chhabra, an alumnus of St. Stephens College and Nidhi Ramachandran, an ISB Alumnus.