Amazon acquires Perpule for Rs 108 cr
By MYBRANDBOOK
Amazon Technologies has acquired Bengaluru-based retail tech start-up Perpule for about Rs 107.6 crore. The acquisition will allow Amazon to offer Perpule's 'UltraPoS' and other new technology products to its kirana partners.
The acquisition will allow early investors in Perpule to exit with 4-5 times returns, Mint, which accessed the regulatory filings filed by the start-up with the Reserve Bank of India (RBI), said.
Amazon is also likely to pay additional remuneration to Perpule's employees, which will take the deal value to about Rs 150 crore, the publication cited two sources as saying.
In November 2018, Perpule had raised $4.7 million in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Most of Perpule's employees, including co-founders Abhinav Pathak, Saketh BSV and Yogesh Ghaturle, are likely to join Amazon, it said.
An Amazon India spokesperson said Perpule's cloud POS will help offline stores manage their operations better. "Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers," the spokesperson said.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
Icons Of India : Debjani Ghosh
Debjani Ghosh is the President of the National Association of Software...
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
STPI - Software Technology Parks of India
STPI promotes and facilitates the growth of the IT and ITES industry i...
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - Rajiv Ramaswami, President & CEO, Nutanix Technologies
Rajiv Ramaswami, President and CEO of Nutanix, brings over 30 years of...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...