SHOPX, India’s fastest growing digital offline platform, fueling retailers in India, has received ₹12.99 Cr of fresh capital from existing investor, Nandan Mohan Nilekani.
ShopX has so far raised a total of ₹122 Crore of which Mr Nilekani‘s contribution has been almost all of it.
The former UDAI Chairman and Infosys co-founder, Nandan Nilekani has been a strategic investor in ShopX. His first investment of ₹3 Cr in ShopX was as early as April 2015. He has been since then backing the startup with a steady infusion of funds every now and then.
Founded by Amit Sharma and Apoorva Jois, ShopX claims to enable retailers to earn 30 to 40 percent more than the traditional retail model.
Bangalore-based SHOPX is India’s fastest growing digital offline platform, which provides significant benefits to retailers across India. Their proprietary technology, when partnered with a retailer, transforms the retailer into a technology-enabled platform. This allows him to service many customers in more engaging ways. The retailer has access to new products, new services, and platform services (like credit and payments). With this approach, the company is helping to expand the overall addressable digital commerce market size significantly.
Over the last 2 years since inception, SHOPX has empowered 49,000 small retailers in 230 towns across 10 states in the South and West of India; serving more than 6.8 million customers, making it one of the fastest growing start-ups in the country. SHOPX aims to provide the 400-million middle-income population in India (as against the current 50 million active internet buyer base) access to e-commerce through its retailer network.