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Gurugram-based offline-to-online commerce platform <keyword id="8103952" type="General" weightage="100" keywordseo="dotpe" source="Orion">DotPe</keyword> on Monday said it has raised $58 million in its series B funding round led by Temasek. The platform, which "plans to foray into financial services", currently serves over 7.5 million brands across the country. The funding round saw participation from existing investors PayU, the payments and fintech business of Prosus, and InfoEdge Ventures while Mitsubishi &amp; Naya Capital joined as new investors. "As we keep democratising opportunities for business growth with our omni-channel solutions and making technology more affordable and accessible, we also plan to foray into financial services and further empower merchants with business loans &amp; credit lines to turbocharge their growth," said <keyword id="3204218" type="General" weightage="50" keywordseo="shailaz-nag" source="Orion">Shailaz Nag</keyword>, Co-Founder and CEO, DotPe. Founded in 2020, DotPe's merchant-base has grown over 3 times since launch. In March, DotPe secured $27.5 million (around Rs 200 crore) in Series A funding as <keyword id="6355629" type="General" weightage="50" keywordseo="google" source="Orion">Google</keyword> joined PayU and Info Edge Ventures as investors. "We look forward to empowering more Indian businesses with the benefits of digitization and co-creating a brighter future for the country's merchant community," said <keyword id="15022820" type="General" weightage="50" keywordseo="vijay-agicha" source="Orion">Vijay Agicha</keyword>, Global Head of Strategy and Growth at PayU. Started by ex-PayU Founder <keyword id="25067" type="General" weightage="50" keywordseo="nag" source="Orion">Nag</keyword> with Gyanesh Sharma and Anurag Gupta, DotPe has digitised enterprise as well as small and medium-sized business (SMB) merchants through a "full stack" solution. The company said that on the enterprise side, it has integration with over 10,000 restaurants and food courts, including leading global and domestic food and beverage brands. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/laying-off-200-engineers-to-centralise-operations-clarifies-ola-ld/articleshow/94296026.cms">Laying off 200 engineers to 'centralise' operations, clarifies Ola (Ld)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a>

DotPe raises $58 mn, plans to foray into financial services

Gurugram-based offline-to-online commerce platform <keyword id="8103952" type="UNKNOWN" weightage="20" keywordseo="DotPe">DotPe</keyword> on Friday said it has secured $27.5 million (around ₹200 crore) in Series A funding as Google joined <keyword id="1493568" type="PERSON" weightage="20" keywordseo="PayU">PayU</keyword> and <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> Ventures as investors. The round was led by its early investor, PayU, the payments and <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">fintech</keyword> business of Prosus, resulting in an increase in the existing stake in the company. Info Edge Ventures has doubled down on its seed investment in the company made last year and more than doubled its shareholding, while Google joined as a new investor. The fresh funding brings DotPe's total funding to $35.5 million. "We are thrilled to see our existing investors, PayU and Info Edge Ventures, backing our vision and doubling down on their funding as new business horizons open up," Shailaz Nag, Cofounder, DotPe, said in a statement. "We are pleased to add Google, an innovation leader, as an investor. This new partnership will empower businesses (big or small) to be more discoverable, expand business avenues and conduct commerce like never before." DotPe has made some key hires in the recent months. The company said that the fresh funding will be deployed towards accelerating product development, market expansion and scaling technology to meet the fast-growing market demand. "In the last few months we've seen an acceleration in offline players seeking to move their businesses online. We're pleased to back young companies like DotPe that are supporting India's digital transformation by connecting consumers and merchants through helpful, innovative tools," Sanjay Gupta, Vice President and Country Head, <keyword id="45395" type="COMPANY" weightage="20" keywordseo="Google-India">Google India</keyword>, said in a statement. "This investment under Google for India digitisation fund underlines our belief in working with India's start-up ecosystem towards the goal of building a more inclusive digital economy that will benefit everyone." Started by ex-PayU Founder Nag with Gyanesh Sharma and Anurag Gupta in 2020, DotPe has digitised enterprise as well as small and medium-sized business (SMB) merchants through a "full stack" solution -- from giving them an online presence to enabling seamless ordering, online payments and delivery. The company said that on the enterprise side, it has integration with over 10,000 restaurants and food courts, including leading global and domestic food and beverage brands. For small and medium-sized businesses, the company has an app called Digital Showroom that helps businesses open a digital store front quickly. It recently raised $27.5 million from investors like Pay-U, Google, and Info Edge Ventures, bringing their total funding to $35.5 million. SEE ALSO: <a href="https://www.businessinsider.in/india/news/the-entire-crew-of-the-massive-ship-that-has-blocked-suez-canal-is-indian/articleshow/81699456.cms">The entire crew of the massive ship that has blocked Suez Canal is Indian</a> <a href="https://www.businessinsider.in/politics/elections/checkout-the-list-of-mamata-banerjee-favourite-tv-and-sports-celebrities-who-are-fighting-for-tmc/slidelist/81700172.cms">Mamata Banerjee's favourite celebs who are fighting for Trinamool Congress in some of the toughest constituencies</a> <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-shares-listed-at-4-less-than-the-issue-price/articleshow/81700313.cms">Suryoday Small Finance Bank shareholders lost 7% of their investment within minutes of listing</a> <a href="https://www.businessinsider.in/stock-market/news/kalyan-jewellers-makes-a-lacklustre-debut-listing-at-15-discount-to-issue-price/articleshow/81700343.cms">Kalyan Jewellers makes a lacklustre debut, listing at 15% discount to issue price</a>

Offline-to-online commerce platform DotPe raises $27.5 million from Google, PayU and Info Edge Ventures

Reliance Retail-based <keyword id="3275685" type="General" weightage="80" keywordseo="dunzo" source="Orion">Dunzo</keyword>s B2B logistics arm, Dunzo for Business (D4B), on Thursday announced its partnership with the governments Open Network for <keyword id="1664180" type="General" weightage="50" keywordseo="digital-commerce" source="Orion">Digital Commerce</keyword> (<keyword id="5862596" type="General" weightage="20" keywordseo="ondc" source="Orion">ONDC</keyword>) to provide last-mile delivery services to local enterprises on the ONDC network. D4B has a fleet of over 75,000 delivery partners, connecting over 20,000 merchants to customers and running millions of orders every month. GrowthFalcons is one of the first businesses D4B has serviced on ONDC. "We are very happy to have a strong logistics provider like Dunzo for Business on the ONDC network. This partnership will accelerate our efforts to make last-mile logistics accessible to a wider audience of buyers and sellers across India," said T Koshy, CEO, ONDC. D4B's key merchants include Fynd, Wellness Forever, DotPe, EatClub and Magicpin, among others. "Starting our journey with key metros, we will scale our services to more cities and become the backbone for intra-city deliveries in the Indian e-commerce ecosystem", said Dalvir Suri, Co-founder, Dunzo, and Head of Dunzo for Business (D4B). Dunzo is present in the top eight cities in India and has over 10 million users. It is backed by <keyword id="58448" type="General" weightage="50" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, Google, Blume Ventures, Aspada Investments, LightBox Ventures, STIC Ventures and 3L Capital, among others. With ONDC, a Unified Payments Interface (UPI)-type initiative of the Ministry of Commerce and Industry to promote open networks, the government is trying to create the largest interoperable open platform in a bid to break e-commerce monopolies and build a more democratised digital marketplace by bringing micro, small, and medium enterprise as well as small traders online. Dunzo earlier this year raised $240 million to expand its footprint in India.ONDC recently boarded Go Frugal, Paytm, Digit, PhonePe and Loadshare, among others. E-commerce platform Snapdeal is set to debut on ONDC this month.

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

The <keyword id="6356311" type="General" weightage="50" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword> has expressed fears about an impending second disaster of water-borne diseases in <keyword id="3001" type="General" weightage="80" keywordseo="pakistan" source="Orion">Pakistan</keyword> in the wake of devastating floods that has wreaked havoc in several parts of the country. In a statement issued by WHO chief Tedros Adhanom Ghebreyesus, the global health watchdog said water supply was disrupted in flood-hit areas of Pakistan, forcing people to drink unsafe water which could cause cholera and other diseases. The WHO has cautioned people across flood-hit areas of Pakistan, precisely the worst affected <keyword id="12961" type="General" weightage="80" keywordseo="sindh" source="Orion">Sindh</keyword> province to be extra careful. Tedros on Saturday highlighted that stagnant water serves as a breeding ground for mosquitoes and spreads vector-borne diseases such as malaria and dengue and urged donors to continue to respond generously to save lives and prevent more suffering . Separately, the WHO Director general tweeted that he was deeply concerned about the potential for a 2nd disaster in Pakistan, spreading disease and threatening lives following the flooding and asked for quick support to tackle the issue. If we act quickly to protect the health system and deliver essential services, we can reduce the impact of this impending health crisis, he tweeted. Situation in Pakistan continues to be grim as the devastating floods have caused havoc in the country, precisely Balochistan and Sindh provinces. At least 1,545 people have been killed due to the floods across Pakistan and an estimated 16 million children impacted. The WHO has immediately released USD 10 million from the WHO Contingency Fund for Emergencies which enabled the global health body to deliver essential medicines and other supplies to the country. In a related development, the <keyword id="6366068" type="General" weightage="50" keywordseo="international-monetary-fund" source="Orion">International Monetary Fund</keyword> (<keyword id="6355408" type="General" weightage="80" keywordseo="imf" source="Orion">IMF</keyword>) on Sunday announced to support flood relief and reconstruction efforts in Pakistan under its current bailout package for the country. The Fund last month restored a stalled economic assistance package and also provided USD 1.1 billion to the country. The IMF's resident representative in the country, Esther Perez Ruiz, said in a statement that the IMF was deeply saddened by the devastating impact of the recent floods in Pakistan and extended its sympathies to the millions of flood victims. We will work with others in the international community to support, under the current programme, the authorities' relief and reconstruction efforts, and especially their ongoing endeavour to assist those affected by the floods while ensuring sustainable policies and macroeconomic stability, the statement said. However, it is not clear how IMF would provide support under the existing Extended Fund Facility (EFF) arrangement, which was signed in July 2019 to provide USD 6 billion to Pakistan during a 39-month period. But the IMF board had approved an extension of the program until end-June 2023 and also enhanced it to about USD 6.5 billion. The Sindh health department, meanwhile, said a total of 2.5 million patients had been treated at different medical camps across the province from July 1 to date, the Dawn newspaper reported. As many as 594,241 patients were treated for skin-related diseases, followed by diarrhea (534,800), malaria (10,702), dengue (1,401), and other diseases (120,745,1), stated a report by the Sindh Directorate General Health Services. The report also showed that 90,398 patients were treated during the last 24 hours, of which 17,919 had diarrhea, 19,746 had skin-related diseases, 695 had malaria and 388 had dengue. Around 92,797 people were treated in the province on September 15, the paper reported. In Khyber Pakhtunkhwa province, the health department said that its officials are already struggling to stem the spread of dengue hemorrhagic fever in flood-hit districts of the province, The Express Tribune newspaper reported. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/dotpe-raises-58-mn-plans-to-foray-into-financial-services/articleshow/94296660.cms">DotPe raises $58 mn, plans to foray into financial services</a>

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DotPe raises $58 mn, plans to foray into financial services

IANS

Offline-to-online commerce platform DotPe raises $27.5 million from Google, PayU and Info Edge Ventures

IANS

Reliance-backed Dunzo's B2B logistics arm arrives on ONDC

IANS

Pak floods: WHO concerned about water-borne diseases

PTI

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