Bengaluru based Tech-enabled Retail grocery store, Gully Network which provides services to mid-sized store raised $1.2 Million pre-series A round from Venture Catalysts. The funding was led by Venture Catalyst with participation from Inflection Point Ventures and DFAN (Digital Futurists Angels Network).
Founded in the year 2019 by Ajay Nain and Prateek Chaturvedi an IIT-IIM graduated who have already cofounded RentoMojo and has work experience with McKinsey. The company stated that with this fresh funds they plan to scale at least 100 stores and launch new revenue systems. The company already raised $700k in Nov 2019 from Orios Venture Partners.
Ajay Nain Cofounder, Gully Network said: “We see that despite using multiple platforms for online sales, POS, supply, and loan, retailers still struggle with manual and inefficient day-to-day operations. We work exclusively with stores and tech-enabled them in altogether possible ways. We double their net income and completely automate their operations,”.
Gully Network same that it’s making its niche within the $25 billion mid-sized store section that has principally been unnoticed amidst the e-grocery and Kirana war.