Pune-based GabbarDeals has raised an undisclosed amount from Venture Catalysts in a funding round. The startup works on an Online-to-Offline model (O2O) for mobile phones and accessories. The company has decided to utilize the funds in strengthening its operations, expanding its services and building new partnerships.
Niraj Raka, CEO and founder of GabbarDeals said, “When customers purchase a phone from an ecommerce platform, it takes at least 24 hours for the phone to get delivered. Taking into account the supply chain disruptions caused by the COVID-19 crisis, the delivery can even get delayed by a few days. Through GabbarDeals, however, customers will get their hands on the brand-new phone within two hours. We have made this possible by bridging the gap between online and offline retailers. This way, GabbarDeals helps ecommerce platforms to cut down their logistics costs and offline stores to acquire a larger customer base.”
With Raka, Poonam Gugale and Piyush Raka co-founded GabbarDeals on a phygital (physical+ digital) model which brings together the benefits of both offline and online spaces creating a profitable situation for everyone- brand, retailer and customer. Post this development, GabbarDeals has also withdrawn its deal with ShopX which was signed in February 2019 and has started GabbarDeals.com. ShopX is a B2B e-commerce startup which had taken over GabbarDeals to create a new class of retailers across Tier I, Tier II and Tier III cities.
Dr Apoorv Ranjan Sharma, Founder, Venture Catalysts, said, “Within a short span of time, GabbarDeals has emerged as a promising player in the mobile retail space. Their omnichannel approach has proven to be effective and profitable, which gives them a winning advantage. This is besides the fact that all the co-founders of GabbarDeals are dynamic leaders and have shown exceptional growth in their own capacities. We are confident that it will fulfil its vision of becoming the fastest-growing omnichannel platform for mobile phones in India and globally.”