Indian DIY startup Dukaan bags seed funding from Matrix, Lightspeed
Dukaan , an India-based DIY platform for online sellers, announced that it has raised US$6 million in a seed funding round co-led by Matrix Partners India and Lightspeed India Partners.
Chris Putnam /123R F
Angel investors also participated in this round, including Network18 and Viacom18’s founding CEO Haresh Chawla, Product Hunt founder Ryan Hoover, Jupiter founder Jitendra Gupta, Razorpay founder Shashank Kumar, Freecharge founder Sandeep Tandon, Bewakoof.com founder Prabhkiran Singh, and Cred founder Kunal Shah.
Founded in 2020 by Suumit Shah, Subhash Choudhary, Kaustub Pandey, and Anurag Meena, Dukaan enables small merchants with zero programming skills to set up online stores in a process that it claims can be done within 30 seconds.
Each merchant gets a store link on which they can showcase their products or services. They can then share the link with customers over social media channels.
Since Covid-19 has forced businesses to go online, the company said it witnessed a surge in merchants adopting their platform. It claims it now has over 2.7 million clients across India using the Dukaan platform.
It plans to serve 60 million small and medium-sized merchants in India across categories such as books, consumer goods, grocery, fashion, electronics, and professional services.
The company claimed that in the last three months, Dukaan’s power stores have helped merchants receive over 600000 orders, generating a total gross merchandise value of over 100 crore rupees (US$13.6 million).
With the fresh capital, the company said it plans to continue to expand its operations across geographies and enhance its product suite.
According to the
The Economic Times , the investment comes as the company is engaged in a court battle with Khatabook, a Sequoia India-backed accounting appover an
alleged copyright violation .
Currency converted from Indian rupee to US dollar: US$1 = 7349 rupee.
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