AAA DotPe tots up series A funding

DotPe tots up series A funding

PayU, the digital payment technology arm of Prosus, e-commerce and media group Naspers’ internet group subsidiary, has led a $27.5m series A round for India-based e-commerce platform developer DotPe.

The round included internet technology provider Google and Info Edge Ventures, the corporate venturing arm of classified listings operator Info Edge.

DotPe’s offline-to-online commerce platform operates as a digital showroom, allowing brick-and-mortar retailers to exhibit their stock to online browsers.

The company has signed up some 5 million merchants and will put the cash into product and technology development along with market expansion.

PayU co-led the startup’s $7.8m seed round in February 2020 with Fosun RZ Capital, a subsidiary of diversified conglomerate Fosun, at a $20m valuation. They were joined by Info Edge Ventures and angel investors Kunal Bahl, Rohit Bansal, Amrish Rau, Vikrant Batra, Sachin Singhal and Rekha Jain.

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.