Marketplace Startup OhLocal Raises Undisclosed Amount In Pre-Seed Funding The fund raised will be utilized to accelerate the OhLocal platform's serviceability to 10,000 more retailers or local sellers across India, and to continue to build a top-quality team, grow brand partnerships and further enhance platform's capabilities
By Teena Jose •
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Gurugram-headquartered online-to-offline (O2O) local marketplace startup OhLocal, has raised an undisclosed amount of pre-seed investment from a clutch of marquee angel investors and VCs. The funding round saw participation from Sunil Kumar Singhvi (JITO Angel Network), Harish Menon, (co-founder, House of Alpha Wealth Management), Puneet Verma (partner at Aquilo LLP) and Sahil Goel, (co-founder and managing partner of MiH Ventures). OhLocal is a startup supported by PedalStart, an accelerator community platform. The fund raised will be utilized to accelerate the OhLocal platform's serviceability to 10,000 more retailers or local sellers across India, and to continue to build a top-quality team, grow brand partnerships and further enhance platform's capabilities in a bid to enable over 5 crore Indian consumers with better shopping experiences and more savings in the upcoming few years.
"This funding round will enable us to provide OhLocal's partnered sellers a more robust platform while also helping them to run ads, manage their inventory, insights through analytics and increase their business margins by up to 20 per cent. In the long run, we aspire to continue to provide optimal value-addition to the growing pool of OhLocal, associated sellers, brands and customers," said Devashish Goyal, founder and CEO, OhLocal.
Founded in October 2020, OhLocal is a first-of-its-kind online-to-offline local marketplace that connects local merchants with consumers in their respective cities via artificial intelligence (AI)-based smart, real-time bidding platform by offering prices competitive against e-commerce players.
"With the rapid digitization of the economy it is imperative that hyperlocal businesses integrate themselves to the digital economy. OhLocal is channelizing a network of hyperlocal merchants and at the same time, empowering the buyers by putting the control of a purchase in their hands," said Sunil Kumar Singhvi.
