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.