Amazon acquires Indian retail tech startup Perpule

REUTERS/Pascal Rossignol

Amazon Technologies Inc., part of Amazon.com Inc., has acquired retail tech startup Perpule in an all cash-deal of 107.6 crore to bolster its play in the kirana-tech space, according to regulatory filings.

Amazon is expected to pay additional remuneration to Bengaluru-based Perpule’s employees, which may bump up the overall deal value to about 150 crore, according to two individuals aware of the discussions.

With this, the firm plans to up its game in the kirana-tech space as it would now leverage Perpule’s cloud-based point-of-sale (PoS) offering ‘UltraPoS’ and offer a new suite of technology products to kirana partners, while digitizing neighbourhood stores.

The acquisition is expected to provide Perpule’s investors an exit with 4x-5x returns. The four-year-old startup has raised close to $4.7 million till date from Prime Venture Partners, Kalaari Capital, Venture Highway and Taxiforsure co-founder Raghunandan G.

Most of its staff including co-founders Abhinav Pathak, Saketh BSV and Yogesh Ghaturle are expected to join Amazon, said one of the people mentioned above.

UltraPoS, which is Perpule’s primary product is a full-fledged store management solution that helps small businesses digitally manage and automate inventory, purchase orders from distributors, and billings.

An Amazon India spokesperson confirming the acquisition, said Perpule’s cloud POS will help offline stores of all sizes manage their operations better. “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout processes, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers,” said the spokesperson.

Perpule co-founder Abhinav Pathak declined to comment.

The article was first published on livemint.com

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.