Goodbox Raises $2.5 Million in Series A from Nexus Venture Partners

Business Wire India
Goodbox, a conversational-commerce mobile app has raised $2.5mn from Nexus Venture Partners. Goodbox allows businesses to create a commerce-ready store within minutes that provides seamless discovery, ordering and payment. Consumers can buy from their trusted stores across multiple categories without having to download multiple apps. The company had earlier raised seed funding from the Manipal Group, Aprameya Radhakrishna (co-founder TaxiForSure) and Charan Padmaraju (co founder redBus). The current funds will be used for merchant acquisition and building the team.

Goodbox allows businesses to create a store on the Goodbox app that resembles the physical environment where the merchant can chat with their customers, upload their product/services catalog for search and discovery, take orders, accept payments and get logistics support. Most customers and merchants already use generic messaging apps to place an order over a message. Goodbox significantly improves the customer experience by integrating e-commerce capabilities with messaging and with time saving features for quick or repeat orders. Customers can buy from and pay their trusted businesses through one window and reduce app fatigue of having to download multiple apps for multiple things.

Goodbox is operational in Bangalore with over 1200 merchants already signed up, including supermarkets, restaurants, laundry chains, rental providers, movers & packers, canteens, salons and thali services. The company’s mission is to get every business to create their store on the app and make that their primary way to interact with consumers.

Sandeep Singhal, Co-founder & MD, Nexus Venture Partners says, “Goodbox is empowering businesses by getting them online and helping them engage with their customers. We are excited about partnering with a team that has great product thinking and proven operational strengths.”

Abey Zachariah, Co-founder & CEO, Goodbox said, “At Goodbox we are committed to enabling businesses with technology by giving them a ready store on our app in a matter of minutes. We wanted to partner with someone who believes in our vision and is willing to support us in accomplishing the gargantuan mission we’ve set for ourselves. We found such synergy of thought with Nexus Venture Partners. The funds will be earmarked for our expansion in the coming months.”

Goodbox has been co-founded by Abey Zachariah (ex-redBus core team), Anand Kelaginamani (IIM-B), Charan Raj (ex-Accenture), Mahesh Herle (ex-National Instruments), Mayank Bidawatka (ex-redBuscoreteam & co-founder The Media Ant), Mohit Maheshwari (IIM-B) and Nithin Chandra (NIT-K & IIM-B).

About Nexus Venture Partners

Nexus Venture Partners (www.nexusvp.com) is India’s leading venture capital fund, with offices in India and Silicon Valley.  Nexus team consists of entrepreneurs who have founded and scaled large global companies. The team has invested in a variety of companies leading to numerous successful public offerings and M&A transactions. It has over $1bn under management with an active portfolio of over 60 companies across Technology, Internet, Media, Consumer, and Business Services sectors.  The Nexus team plays an active role in helping entrepreneurs and management teams build market-leading businesses. Nexus partner companies include Cloud.com (acquired by Citrix), Gluster (acquired by Red Hat), Pubmatic, DimDim (acquired by Salesforce), Snapdeal.com, Netmagic (acquired by NTT Com), Druva, and Shopclues.

Photo Caption: App Screenshot