Gabbardeals, a Pune-based online-to-offline (O2O) platform, on Wednesday has announced its acquisition of SaaS-based company InstaOne Software that provides end-to-end solutions, enabling retail and distribution with a seamless experience across channels.
According to a statement, the acquisition is aimed at empowering local retailers in India. It will also allow Gabbardeals to build a full-stack of PoS systems for better last-mile connectivity and delivery of consumer electronics.
Co-founded by serial entrepreneur Niraj Raka, Poonam Gugale, and Piyush Raka in 2019, Gabbardeals.com is an omnichannel O2O platform for mobile phones and accessories. It is an integrated retail operating platform that connects brands, consumers, and retailers, and is working with local stores across the country to help them source better and sell better.
Niraj Raka
Commenting on the acquisition, Niraj Raka, Founder and CEO, Gabbardeals, said,
“India has a widespread network of small retailers across the country. We, at Gabbardeals, are creating a new digital retail model, which blends the online and offline worlds seamlessly. Acquisition of InstaOne, along with its talented team of top performers, will tremendously accelerate GabbarDeals’ pursuit of becoming a leading player in the Indian retail market.”
At present, Gabbardeals claims to have more than half the retailers on its platform coming from Tier-2+ cities.
Elaborating on the traction, the founder said,
“We have a positive contribution margin and are gross profitable from day one. To date, we have sold close to one lakh mobile phones, gadgets, and accessories through 50 franchisees. We have achieved Rs 100+ crore in Gross merchandise value (GMV) within the first year of operations."
The startup has also launched a series of integrated assistive tools, including WhatsApp Chatbot, to guide users that talk in their preferred language. In the coming days, it will be launching its B2C mobile application that will enable users to discover the best deals from their favourite stores nearby.
Earlier in June, Venture Catalysts had invested an undisclosed amount into GabbarDeals.
Edited by Suman Singh
Link : https://yourstory.com/2020/11/pune-startup-gabbardeals-acquires-instaone-software
Author :- Apurva P ( )
November 11, 2020 at 02:25PM
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