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Amazon acquires retail tech startup Perpule

Saransh Pandey

Intern
  • March 31, 2021
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    Perpule’s offers a cloud-based point-of-sale (PoS) offering named UltraPoS, which helps small businesses digitally manage and automate inventory, purchase orders from distributors, and billings.

In an attempt to strengthen its hold amongst offline retailers, e-commerce giant Amazon has acquired retail tech startup Perpule. According to regulatory filings by Perpule with the Reserve Bank of India or RBI, Amazon has acquired it in an all-cash deal worth Rs 107.6 crore or $14.7 million. 

Besides this, the acquisition is expected to provide Perpule’s investors, Prime Venture Partners, Kalaari Capital, Venture Highway, and TaxiForSure, an exit with a 4X to 5X return 

The transaction is likely to deepen Amazon’s footprint amongst small retailers. Amazon’s payment arm Amazon Pay had launched a ‘Smart Stores’ feature in June 2020 so that users can scan the store’s QR code and explore products inside the store. It’s positioned to increase footfalls and drive sales for retailers.  

Perpule would power and drive the adoption of Smart Stores with its PoS solution. Perpule’s PoS billing solution product UltraPOS helps retailers in the electronics, fashion, food, and beverage, and grocery sectors to improve their efficiency. Its base includes BigBazaar, Oyo, Udaan, Curefit, Wakefit, 24SEVEN among others. 

According to the report, Amazon is expected to pay additional remuneration to Perpule’s employees, which may further increase the total deal value to around Rs 150 crore. Following the transaction, most of Perpule’s employees including co-founders Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle, are expected to join Amazon. 

So far, the company has raised a little over $6 million including its $4.7 million Series A round in November 2018. Its backers include Kalaari Capital, Prime VP, and Venture Highway. 

Led by Abhinav Pathak, Perpule had also forayed into the south-east Asian market to help offline retailers to shift to an online platform and mobile application. During the peak of the pandemic, the company also launched StoreSe to connect retailers and apartments across 2,000 apartments in Bengaluru and nine other cities. 

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