Google backed e commerce enablement platforms Dotpe has raised a new round led by Temasek. This would be the first round of funding for the Gurugram based company in 2022 & the second in the last 18 month.
Dotpe raises $55 Mn
Dotpe board passed a special resolutions to issue 20 shares and 7,327 compulsory cumulative preference shares CCPS at an issue price of Rs 5,91,525 per share to raise Rs 435 crore or Rs 55 crore, regulatory document show. with the Republic of China.
Temasek via V Sciences Investments led the round with Rs 150 crore or $19 millions, while existing backer PayU Fintech Investments injected Rs 91.74 crore or $11.2 millions.
MUFG Bank Ltd, Naya Global Investment & Info Edge Ventures fund participated with Rs 75 crore, Rs 82.5 crore and Rs 35.3 crore respectively. The company has been valued at around $245 to 250 million after allocation. This is almost a 3X jump in his valuation compared to his last round.
The company was in talks with Temasek to raise about $50 million.
Founded by PayU co founder Shailaz Nag along with Gyanesh Sharma & Anurag Gupta in 2019, Dotpe offers digital transformation and commerce solutions to offline retailers of all shapes and sizes, while providing extensive customer engagement, such as marketing, customer service, logistics, etc. . .
With the new financing, the company has absorbed more than 90 million dollars in three institutional rounds. The company raised a $27.5 million Series A round led by PayU in March 2021 and a $7.5 million seed round in February 2020.
it has helped more than 7.5 million partners including BiryaniBlues, Burger Singh to connect and manage their operations. Dotpe competes with Dukaan, Shopify, and several others backed by Matrix. Recently, ShopX, one of Dotpe’s competitors, filed for bankruptcy and eventually went out of business.
In September last year, Dotpe acquired billing point of sale POS company Rishta for an undisclosed amount.