GoKwik raises $15m led by Sequoia Capital and 11 India deal updates

E-commerce enablement platform GoKwik has raised $15 million in a Series A funding round led by Sequoia Capital India. The round also saw participation from existing investors Matrix Partners India and RTP Global, per an announcement on Wednesday.

The new investment will be primarily used for doubling the size of the product and tech teams, to enable the development of innovative products to increase conversion rates across the funnel as well as make the existing offerings more robust, the startup said in a statement.

“E-commerce enablement players will play a pivotal role in fuelling the burgeoning Indian e-retail market which is projected to touch $120 billion in next 4-5 years. Conversion rates across the funnel and RTO are major pain points for any e-commerce business, and an e-commerce enablement player like GoKwik bringing network advantage is best poised to solve these problems,” said hirag Taneja, Co-founder & CEO, GoKwik.

Founded in 2020, GoKwik focuses predominantly on solving crucial e-commerce issues like boosting conversion rates across the e-commerce funnel and reducing return to origin (RTO) for its partners. Within 250 days of its launch, the company claims to have onboarded 100+ category-leading brands that have an annualized GMV of $250 million.

GoKwik had previously raised $5.5 million in a Pre Series A round led by Matrix Partners India in September 2021.

Its clients include Mamaearth, Good Glamm Group (Myglamm), LimeRoad, EyeMyEye, boAt, ManMatters, OZiva, The Souled Store, Noise, and VMart.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced from November 15-17, 2021.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals 
GoKwik Delhi15 millionSeries ASequoia Capital IndiaMatrix Partners India, RTP GlobalSoftwareAI and Machine Learning
GENLEAPGurugram8 millionSeedVivek Vaidya, Kevin Donlon, Ayush Singh, Rashed Mahmood-Education/TrainingEdTech
CookdChennai600,000Pre-SeedKonglo Ventures, Kerala Angel NetworkAju Jacob, Geemon Korah, Keerthy Suresh, Kathir Vineet KumarFoodFoodTech
ToplyneBengaluru2.5 millionSeedSequoia Capital India’s Surge, Together Fund, angel investors from Canva, Freshworks, and Zoominfo-SoftwareSaaS
ClinikkBengaluru4 millionPre-Series AMassMutual VenturesKunal Shah, Rohit M.A., Anjali Bansal, Stanford Angels, Times Internet Group, EMVC, 500 Southeast Asia, WEH VentureInsuranceInsuretech
XR CentralGurugram135,000SeedNetprophets Cyberworks-SoftwareAR & VR
CloudFilesBengaluru317,000Pre-SeedTitan CapitalAshish Garg, Renil KomitlaSoftwareCloud Computing
CradlewiseBengaluru7 millionSeedFootwork, CRV, SOSV, Better CapitalKatrina Lake, Jeremy Cai, Dilip GoswaniElectronicsHealthTech
PlanysChennai1.6 millionPre-Series AKieretsu Forum, Lets Venture, ShellONGC Startup Fund, Ranjan Pai’s family office MEMG, Kris GopalakrishnanIndustrial MachineryRobotics & Drones
Mensa BrandsBengaluru135 millionSeries BAlpha Wave VenturesAccel Partners, Norwest Venture Partners, Tiger Global Management, Prosus VenturesRetailE-commerce
WonderchefMumbai20 million-Sixth Sense VenturesGodrej Family office, Malpani groupConsumer ProductsE-commerce
GuardianLink.ioChennai12 millionSeries AKalaari Capita-Financial ServicesBlockchain

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.

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.