Peel-Works, a SaaS and Big Data analytics platform for small-and-medium-sized retailers has raised $5 million in Series B funding. This round was led by Equanimity Ventures. Other companies that participated included HDFC Bank and Bruno Raschle while existing investors like Unilever Ventures, Chiratae Ventures, and Inventus Capital India also backed the startup.
Peel-Works has a retail management platform, Taikee, which enables retailers to discover brands at low prices. It is live in more than 16 cities with 20,000 retailers using its platform to improve their sales, basket-fill, and profitability. The startup will utilise the funds to expand its footprint across 25 cities and on board 1 lakh retailers over the next six to twelve months, said Sachin Chhabra, founder and CEO of Peel Works. He added that the company is looking to hit close to a $1 billion in GMV run rate in 2019 in the grocery segment.