Get All Access for $5/mo

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

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Marketing

5 SEO Hacks to Help You Rank Fast

Discover the best SEO hacks you can use to rank fast and avoid waiting for months to see results.

Leadership

How His Personal Battle With Cancer Inspired This Founder's Solution for Patient Care

On this episode of "The Founder CEO," Michael O'Neil, founder and CEO of GetWellNetwork, discusses his inspiring journey as a leader and the transformative role of AI in healthcare.

Growing a Business

How Visionary Leaders Transform Curiosity Into Groundbreaking Ideas

Lee Brian Schrager, founder of the South Beach Wine & Food Festival, discusses the spark that launched FoodieCon, his best practices for running popular food events, and why all business owners need to adapt to social media trends.

Money & Finance

Avoid These 10 Mistakes Entrepreneurs Make with Money

Despite the challenging statistic that only 5% of startups survive beyond five years, common financial pitfalls often contribute to their failure. Through personal observation, I've identified the prevalent financial mistakes made by entrepreneurs.

Data & Recovery

Get $60 off This Portable VPN Travel Router

Why keep paying for a VPN service when you can have a tiny, lightweight piece of hardware that can provide you with a lifetime of maximum VPN protection?

Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.