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.
Microsoft to build a new data centre to support Thailand's tec
Microsoft has revealed intentions to construct a regional data centre as w...
SAP launches cloud services to help Indian scaleups innovate m
SAP at SAP unveils now "GROW with SAP for Scaleups," a new cloud service d...
Denodo and Sonata form alliance to unlock data-to-value creati
Denodo and Sonata Information Technology India Limited (SITL) have annou...
Google Play Store will now let users download two apps simulta
Google Play Store now lets users download two apps simultaneously. While a...
EXIDE INDUSTRIES LTD.
RELIANCE JIO INFOCOMM LTD.
CP PLUS INDIA PVT. LTD.
LENOVO GROUP LTD.
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
Technology Icons Of India 2023: Rishad Premji
Rishad Premji is the son of the Wipro head Azim Premji and was named a...
Technology Icons Of India 2023: Rajeev Chandrasekhar
Rajeev Chandrasekhar is the Union Minister of State for Electronics an...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
DRDO is India's largest and most diverse research organisation
DRDO is the R&D wing of Ministry of Defence, Govt of India, with a vis...
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
SUPERTRON ELECTRONICS PVT. LTD.
Supertron deals in servers, laptops, components, accessories and is a...
INTEGRA MICRO SYSTEMS PVT. LTD.
Integra is a leading provider of innovative hi-technology products an...
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...