WhatsApp-based e-commerce platform for local businesses, ChattyBao, on July 28, raised over $5 million in a seed funding round co-led by Vertex Ventures South East Asia & India and Info Edge Ventures. 7Square Ventures and other angel investors also participated in the round, said the company in a statement.
“Small merchants and service providers are the backbones of the retail industry in India. ChattyBao can strengthen their value proposition further, and become a catalyst in enabling more customers to come online and transact with the same comfort they already experience in WhatsApp conversations,” said Kanika Mayar, Partner, Vertex Ventures South East Asia, and India.
Founded in 2021 by Kumar Aditya, former Chief Business Officer of Paytm and Varun Gupta, former Director of B Capital Group, the company ChattyBao connects users with local businesses and provides a shopping experience over WhatsApp. According to the company, users on the platform will be able to discover, chat, order, and get home delivery from their local merchants, without the need of downloading multiple apps.
“The entrepreneurial spirit of local businesses in India has always helped them survive and fight competition from larger players. ChattyBao will significantly enhance their ability to provide an e-commerce experience to their users, helping them compete effectively with online players,” said Aditya, who is also the chief executive officer (CEO) of ChattyBao.
The company also informed that the new funds will be used for product development and market operations. The company also said that it plans to launch its app in the third week of August this year in a few markets. Launched late last year, the Delhi-based company said it currently has an employee count of 15.