Capillary Tech buys stake in CRM-based startup Exclusife

BENGALURU: Capillary Technologies has acquired a minority stake in Exclusife by investing an undisclosed amount in the CRM-based startup that targets small and medium retailers in India.

Founded in 2013 by Anand Krushnan and Manish Mehta, the Noida-based startup provides mobilefirst CRM solutions. According to the company, it has a customer base of nearly 4,500 in some 22 cities.

"With the fresh capital, we plan to expand to another 11 cities by the end of the next financial year and penetrate further into the existing markets," Krushnan told ET.

Commenting on the strategic partnership, Capillary chief executive Aneesh Reddy said: "While Capillary has made a mark in the enterprise segment, Exclusife will play a similar role in SMB Retail segment. Together we form a great team in serving the needs of brands of different sizes. While we process 10% of the organised retail in India, Exclusife will aggressively work towards small retail segment which forms a market size of around 5% of the overall market of 14 million SMB retailers in India."