The fund raised will be used for technology development, hiring, marketing and expansion plans
Bengaluru: E-commerce platform Direct2U has raised Rs.1.8 crore in a seed round led by Inflection Point Ventures (IPV), announced the company in a press release on Friday. The fund raised will be used for technology development, hiring, marketing and expansion plans.
“Direct2U has identified a promising white space i.e rural e-commerce market and it is disrupting rural market by bringing in standardised processes which will elevate customer experience, business growth of the brands, generate employment for delivery staff and a safe payment process will give trust and comfort to the customers, many of whom are first-time online shoppers,” said Mitesh Shah, Co-Founder, Inflection Point Ventures,
“The fact that rural commerce, with tech-enabled last mile delivery along with a user-friendly frontend platform, can be executed with positive unit level economics is a winning factor. IPV is instrumental in guidance through various mentor investors in supporting the business grow further,” said Gaurav Ahlawat, founder of Direct2U.
Direct2U, a B2B2C (business to business to consumer) platform owned by Flow Commerce Pvt. Ltd., is a consumer durables marketplace that brings together order fulfilment, online money transfer, and credit purchase options, along with door-step delivery for rural Indian consumers.
Flow Commerce was started by Gaurav Ahlawat and Anshuman Maheshwari in December 2022. The company’s Direct2U marketplace started posting revenue on 1 January 2023.
Since its launch, the company has expanded its operations in Bihar, Madhya Pradesh, Odisha, and Karnataka with 23 warehouses.
Inflection Point Ventures (IPV) is an investing platform with over 7400 chief experience officers (CXOs), high net worth individuals (HNIs), and professionals to together invest in startups. The company has so far invested over Rs. 550 crore across more than 170 ventures.
