GoKwik on Wednesday said it secured $35 million, to develop tech solutions for large marketplaces, and omnichannel players and continue expansion in the D2C market.
The Series B funding round was led by Think Investments, along with existing investors Sequoia Capital India, Matrix Partners India, and RTP Global.
The New Delhi-headquartered startup GoKwik aims to invest further, to expand its ecommerce enablement stack and grow its network of brands, further optimise their conversion results, and provide customised solutions.
GoKwik to hire more, and focus on AI and ML Capabilities
The company will also hire more talent, with a focus on engineering and data sciences (AI and ML capabilities), across India by the end of 2022.
The 15+ months old GoKwik has helped over 250 brands to solve issues, including conversion rates, reducing RTO or improving GMV, and improving customer experience and retention potential.
The startup aims to enable more payment options, accelerate the prepaid success rate, and ensure financing alternatives to help partner brands provide affordability to the “Bharat” market.
GoKwik’s clients include marketplaces like Snapdeal, Limeroad, and Lenskart, and D2C brands like boAt, Mamaearth, Crocs, and The Man Company.
Founded by Chirag Taneja, Vivek Bajpai, and Ankush Talwar, GoKwik combines technology, data, and UI/UX expertise to drive the overall profitability of any business on ecommerce platforms, including new-age D2C brands and social commerce platforms.
In September 2021, the startup had raised Rs 40 crore ($5.5 million) in a pre-Series A round. A few months later, in November, it raised Rs 112 crore in a Series A round from its existing investors.
