E-commerce giant Amazon acquired Perpule, an Indian retail tech start-up helping offline stores go online, regulatory filings revealed. The filings show that Amazon paid Rs 107.6 crore ($14.7 million) in an all-cash deal. Amazon is expected to further spend Rs. 36 crore ($5 million) to compensate Perpule’s employees.
An Amazon spokesperson confirmed the acquisition with MediaNama stating that “Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”
Perpule’s co-founders Abhinav Pathak, Saketh BSV and Yogesh Ghaturle, along with some other employees are expected to join Amazon, according to a report by Mint.
Perpule, founded in 2016, began by providing self-checkout and self-ordering solutions for offline stores and cafés, helping customers avoid queues. Their service is used by supermarket chains like Spar Hypermarket, More, and Big Bazaar. The company later introduced its popular cloud-based point-of-sale (PoS) offering, UltraPoS, to help Kirana stores accept all types of digital payments. Perpule recently expanded to other Southeast Asian countries including Vietnam, Thailand, Indonesia, Malaysia, and Singapore.
This is Amazon’s latest attempt to gain market share in a country where 95% of retail sales continues to happen through brick and mortar stores and comes at a time when another Indian giant, Reliance, is tapping into the Kirana store network with its subsidiary Jio Platforms. The Perpule acquisition follows on the heels of Google’s investment in DotPe, a company that offers similar services.
- JioMart goes live, marking a huge step on Reliance’s digital ambitions
- Perpule partners HyperCity to open two fully cashier-less stores in Hyderabad