Rudraksha Tech Labs Pvt. Ltd, which operates contactless retail-tech startup Gobbly, has raised $500,000 (Rs 3.7 crore at current exchange rate) in seed funding.
The Gurugram-based company has raised this capital from early-stage consumer-focused venture firm Sauce.vc, it said in a statement. Other startups in Sauce.vc’s portfolio include Near.Store, And Nothing Else, and Misters.
Gobbly, set up last year by Amit Ahuja and Ankur Agrawal, says it is focused on providing contactless retail experiences for segments including farm produce, curated food and beverages like meals and snacks, and packaged third-party goods.
Its first product is a line of mobile-operated unmanned fridges that let customers pay via electronic wallets.
The company says it will use the capital it has raised to further develop its technological infrastructure and expand its marketing initiatives.
“We are developing a full stack automated retail technology platform with which we intend to improve the overall experience over offline shopping and traditional ecommerce,” Agrawal said.
Sauce.vc managing partner Manu Chandra said the firm was confident of its bet on Gobbly because of the startup’s focus on contactless customer experience. “Consumers want personalisation in selection and instantaneous consumption when it comes to fresh food retail,” he added.
Sauce.vc invests in companies in the food and beverage, apparel and lifestyle, and personal care sectors. Previously, it has invested in Surat-based XYXX Apparels Pvt. Ltd, which runs an eponymous innerwear brand; food and beverage brand &ME; and personalised hair care brand Bare Anatomy.
The larger retail-technology sector has seen a few deals in the past couple of years. In August last year, for example, VCCircle exclusively reported that Slingloft Technologies Pvt. Ltd had raised seed funding. The firm helps retail companies to manage their loyalty and engagement network.
In July that year, Walmart Labs, the technology arm of United States-based multinational retail giant Walmart, said it had acqui-hired two India-based startups, FloCare Labs Pvt. Ltd and BigTrade Infosystems Pvt. Ltd, to strengthen its customer service systems.
