New Delhi: Browntape.com, a leading e-commerce aggregator in India, has raised a fresh round of funding, from PE fund Marathon-Edge-backed Ginni Systems, to drive growth. Ginni Systems, maker of Ginesys is a leading provider of ERP & POS solutions.
Browntape’s software streamlines backend processes for retail brands & online sellers to manage their inventory and orders across various marketplaces & website engines such as Amazon, Flipkart, Myntra, Magento, Shopify, and 30+ such platforms from a single panel. Orders can be fulfilled from multiple offline locations of a brand across warehouses and stores.
Browntape Technologies Private Limited, which was founded in 2012 by Gurpreet Singh and Piyush Goel, previously raised funds from angels and institutional funds including GSF Accelerator, Krishnan Ganesh, Seedfund, and Gati Ltd. among others. The startup, which has been cashflow positive for the past three years, enables sales of over Rs 100 Cr every month through its SaaS-based order and inventory management system.
Commenting on the development, Gurpreet Singh, Co-Founder & CEO, Browntape said, “The pandemic has given a tremendous push to digital and online commerce in the last year. Many retail brands are considering digital retail to be critical for business continuity and a key piece of their future growth strategy. Browntape enables offline players or digital native brands to quickly offer their products across online channels in a simple and cost-effective manner. We are delighted to welcome Ginni Systems with Marathon-Edge backing on board; the capital will help us grow our offering and serve our customers better.”,
“The simplicity and ease of use of our system have been a key differentiator for us. Our customers want to go online quickly, manage a single view of inventory across multiple marketplaces/websites, and fulfill seamlessly. We have recently added wellness marketplaces 1mg and Netmeds, social-commerce marketplace Meesho, FMCG marketplace Grofers, and are working to add more marketplaces for an even broader coverage across retail categories. Increasingly artificial intelligence is playing a greater role in retail and we are working to build AI-powered insights and processes for sellers that will help them grow their businesses more efficiently” said co-founder & Product Head Piyush Goel.
The multi-location aware system at Browntape.com connects the offline inventory present across various retail stores and warehouses of a brand to their online presence such that orders generated via online channels can be served from any of the offline locations dynamically. Brands can define the formula for fulfillment – whether based on availability, proximity to the buyer, or other criteria.
Browntape powers digital retail for some of Indian’s leading brands such as Tata Croma, Future Group, Zivame, Tupperware, Catwalk, D’Decor, IFB, Welspun, and others across categories including Fashion, Lifestyle, Home Decor, Electronics, Footwear, Bags, Sunglasses, etc.
Marathon Edge is a private equity investor in the technology and consumer sectors with a typical ticket size of $5-10 Million. Nikhil Raghavan, a partner from Marathon Edge will be joining Browntape’s board. On Browntape, Raghavan said, “Piyush and Gurpreet are pioneers in building a multi-channel order management system. Covid has shown that this is a business model that is critical to any brand or retailer wanting to sell through their own website and marketplaces – and to manage the complexity.”
Terms of the transaction were not disclosed.
