Mumbai-based Unilever Ventures, the PE vertical of Unilever has led a Series B funding round in consumer-focussed SaaS and big data analytics startup, Peel-Works. This marks Unilever Ventures’ first investment in India.
The round also saw the participation of existing investors Inventus Capital Partners and IDG Ventures India. With this, Unilever Ventures will get a seat on the startup’s board.
Commenting on the investment, Olivier Garel, Head of Unilever Ventures said “There is a great opportunity to empower the large traditional trade in fast-growing markets leveraging technologies at the point-of-sale. Insights generated can be used by consumer packaged goods, e-commerce, FinTech or Cash & Carry players to develop innovative solutions, improve services and sales force performances. Peel-works is taking a lead in this and we are excited to partner with them in this journey”
As per reports, the newly-secured financing will enable Peel-Works to bolster its product and technology offerings, while also expanding its geographical reach. A portion of the fresh capital will be spent on hiring a new team.
Peel-Works: Leveraging Technology To Drive Sales Of India’s 10 Mn Grocery Stores
Founded in September 2010 in the cities of Delhi and Jaipur by Sachin Chhabra and Nidhi Ramachandran, Peel-Works is a startup that is working to connect local grocery stores with brands via technology that can manage sales force beyond distributors through SaaS and big data analytics.
In addition to helping retailers improve customer loyalty, the platform offers assistance in optimising store assortments and inventory levels, thereby bringing down operational costs. Through SaaS and big data analytics, Peel-Works helps brands and stores to better understand their shoppers.