1. News
September 14, 2021

Gobbly raises $978k from investors in pre-Series A funding round

The company develops contactless retail stores in residential and gated communities.

India-based contactless retail store Gobbly has raised Rs72m ($978k) in its latest pre-Series A funding round led by Anicut Angel Fund and Sauce.VC.

Agility Ventures and other investors, including CRED founder Kunal Shah, People Group founder and CEO Anupam Mittal, Nic Naturals founder Jitendra Bhandari, Mosambee co-founder Sameer Chugh and entrepreneur Mihir Agarwal, took part in the round.

The company aims to use the funds to help make shopping safer for consumers as the world emerges from the Covid-19 pandemic.

In a statement, Gobbly said: “The fresh funds will be focused on strengthening the company’s position as one of the fastest-growing retail tech start-ups in India.

“[They] will further allow the company to use the capital for technology, business development, product innovation and development, and expansion.”

Gobbly was founded by Amit Ahuja and Ankur Agrawal and offers farm-fresh fruits, vegetables and dairy products.

It implements self-checkout stores to harness captive affluent customer bases such as housing societies, residential apartments and gated communities and offices.

Investment bank Dexter Capital served as Gobbly’s exclusive financial advisor during the process.

Mr Ahuja said: “We are combining the convenience of online shopping with the instant gratification of real-world retail.

“Marry that to our strategy of maximising 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.

Mr Agrawal said: “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.”

Sauce.VC managing partner Manu Chandra said: “Self-checkout technology is the future of retail, and Gobbly’s homemade tech is enabling consumers instantaneous gratification 24/7 in the most concentrated and captive affluent customer bases – societies and offices.”

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.