Gully Network, a tech-enabled network of mid-sized grocery stores, announced it has raised $1.2 million in a pre-Series A funding round led by Venture Catalysts.
Inflection Point (IP) Ventures and DFAN (Digital Futurists Angels Network) also participated in the funding round.
Founded in 2019 by Ajay Nain and Prateek Chaturvedi. Gully Network partners with existing unbranded mid-size stand-alone stores that wish to become part of a modern retail chain to improve their sales and income.
The startup plans to use the capital to boost expansion by scaling its presence to at least 100 stores, its co-founder added.
“We see that despite using multiple platforms for online sales, POS (point of sales), supply, and loan, retailers still struggle with manual and inefficient day-to-day operations,” Nain said.
Earlier in 2019, Gully Network had raised Rs 5 crore from Orios Venture Partners.
–AN
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.