m.Paani, Google Launchpad Start-up successfully raises $5.5M
Google Launchpad is basically a global acceleration program of successful applications by different start-up accelerators. Each batch of these accelerator undergoes a rigorous 6 months mentorship programme at Google’s lab in Mountain View, California with the continuation of the start-ups’ relative and tentative markets and several other international locations around the globe.
This extensive 6-month programme has various values for the start-ups, which are as follows,
Unique and early access to Googlers as mentors.
Keeping the Global network of Launchpad partners, mentors, Investors and Experts as leverage.
It creates a strong connection among the local and regional leads. This will automatically give access to the local business partners, local PR and Regional VC Fund connections.
The Google Launchpad directly connects to the Google Products, Google platforms and Google Credits as well.
Their visibility is sponsored and funded by a Google Program.
Talking about the funding news, one of Google Launchpad start-ups, m.Paani has successfully raised. $5.5 Million from Henkel, AC Ventures and Gojek founder. m.Paani plans to use the funds of mass market data and loyalty setup to invest in manufacturing of products, development of products, accelerate growth and expansion and finally in making key hiring’s.
M.Paani , a Mass Market data and loyalty start-up has announced a raise of a handsome capital of 5.5 million dollars which is close to RS.39 crores in its continuous series A funding round. This round was leaded by industry investors like Henkel, AC Ventures, Candy Ventures and angel investors like Kevin Aluwi (CEO and Co-founder of Gojek) and Suvir Verma (Board member and Senior advisor at Bain & Company) along with Ryu Suliawan (Head of Merchants at Gojek). Even existing investors participated in this round of funding including Chiratae Ventures and Blume ventures.
m.Paani is a Google Launchpad and Google Studio company based in Mumbai and has been digitising and organising local and regional retailers to offer effective neighbourhood shopping experience of the future. The start-up was launched in 2014 by Akanksha Hazari who is a Princeton and Cambridge University alumnus and received the Vital Voices Global Leadership Award for Economic Empowerment from Secretaries of State Hillary Rodham Clinton and Madeline Albright in 2016.
Commenting on the works done by the start-up, Alanksha Hazari, CEO and Founder of m.Paani stated that they have always believed in services offered by local retailers. They win on every consumer consideration – quality, product selection, service, value, credit, and delivery speed. Small businesses also account for more than 40 percent of employment and are a bedrock of communities and the ever-growing economy. That’s where m.Paani comes into the picture by bridging the technology gap to make sure that the local retailers not just survive but flourish in the new India 2.0. The future of Indian retail is, and must be, local to be better.
Appreciating the initiatives by m.Panni, Kevin Aluwi, CEO and Co-Founder of Gojek mentioned that the start-up has been working with a very hard-working and robust team with a deep understanding of the local retailers. This is evident in their sound strategy for solving the problems faced by the users. Gojek is excited to be a part of m.Panni’s journey and also sees great potential in them to empower the local retailers beyond India.
On the funding action, the executive director of Venture capital, AC Ventures mentioned that m.Paani’s vision to foster local retailers is something thay share and are absolutely influenced that the start-up is a game-changer for the traditional trade channel and the retail industry.
Standing today, m.Paani has got more than 50,000 retailers and 7 million consumers on it’s stage growing at a decent 30% plus every month. This has been made possible just by the 25 member team working at m.Paani. In 2017, the start-up successfully raised around $1.35 million from IDG Ventures, Blume Ventures and Saha Fund.
It is believed that m.Paani has a very strong team which has a deep understanding of the local and regional retailer that is correctly reflected in it’s great products and strategy of solving consumer’s problems and aspirations.
Disclaimer – We have collected this information from various trustworthy sources on the Internet, and the facts have been checked manually and verified by our In House team.
