Peel-Works gets $5m to expand to 25 cities

Ahmedabad: Peel-Works, a software-as-a-service and big data analytics platform for small- and medium-sized retailers, has raised $5 million in Series-B funding, led by Equanimity Ventures, with participation from HDFC Bank and venture capitalist Bruno Raschle.

Existing investors such as Unilever Ventures, Chiratae Ventures and Inventus Capital India also backed the Mumbai-based startup.

Peel-Works plans to strengthen its retail management platform Taikee, and will use the funds to expand to other cities. “The funds will be used to expand business across 25 cities and onboard 1,00,000 retailers in the next six to twelve months,” said Sachin Chhabra, CEO, Peel-Works.

Peel-Works, a software-as-a-service and big data analytics platform for small- and medium-sized retailers, has raised $5 million in Series-B funding, led by Equanimity Ventures, with participation from HDFC Bank and venture capitalist Bruno Raschle. Existing investors such as Unilever Ventures, Chiratae Ventures and Inventus Capital India also backed the Mumbai-based startup.

Peel-Works plans to strengthen its retail management platform Taikee, and will use the funds to expand to other cities. “The funds will be used to expand business across 25 cities and onboard 1,00,000 retailers in the next six to twelve months,” said Sachin Chhabra, CEO, Peel-Works.

In the grocery segment, Peel-Works looks to touch about $1 billion in gross merchandise value this year, the company said.