DotPe, which helps businesses with online operations, has raised $27.5 million (around Rs 199.6 crore) in a Series A round.
The round in Gurugram-based DotPe has been led by existing investor PayU. Other participants include Info Edge Ventures and technology giant Google.
PayU has significantly increased its stake in DotPe as a result of this investment, while Info Edge Ventures has more than doubled its shareholding. The capital comes a little more than a year after the startup raised around $8 million (Rs 56.8 crore) in its seed round.
PayU and Chinese conglomerate Fosun International led that round, which was joined by Info Edge Ventures, Snapdeal founders Kunal Bahl and Rohit Bansal, and Pine Labs CEO Amrish Rau.
DotPe, operated by Dotpe Pvt Ltd, was set up last year by PayU co-founder Shailaz Nag along with Gyanesh Sharma and Anurag Gupta. The company says its platform enables solutions for businesses including an online presence, seamless ordering, online payments, and delivery. It also has integration with over 10,000 restaurants and food courts.
It will use the proceeds from this Series A round to accelerate product development and boost technological infrastructure, among other things.
“DotPe aligns seamlessly with PayU's vision of digitising payments in India by enabling merchants of all sizes,” PayU India chief executive Anirban Mukherjee said.
DotPe claims that over five million consumers in the country in the past year have switched to ordering and buying from merchants using its platform, with over 38% of daily orders coming from repeat customers.
