Techno Hour

Indian retail tech startup all set to launch “Go Store” via new investments

Arzooo, a Bengaluru-based retail tech startup, has raised an undisclosed amount from Silicon Valley’s venture capitalist, Bill Tai and Zoom meeting app’s founder Eric Yuan. With the new investment, the company is planning to step into the technology forte, operations and quality of service. It will also build funds to launch its B2B platform, i.e., ‘Go Store’.In the month of October, Arzooo raised approximately $7.5 Mn in Series-A funding which was led by WRVI Capital. It received participation from its existing investors 3Lines Venture Capital, and UAE’s Jabbar Internet Group among others.

Arzooo was founded by Rishi Raj Rathore and Khushnud Khan in 2018. It is a retail technology platform that empowers retail stores. The company currently operates in more than twenty cities including Delhi NCR, Bengaluru, Chennai, Hyderabad and Kolkata among others.

While Arzooo is the first Indian investment of Eric, Bill Tai has been among the investors’ board of Zoom Video, Twitter, Canva, Wish.com and colorgenomics.

Following the recent investment, Khushnud Khan, cofounder of Arzooo.com said, “Having one of the biggest Tech entrepreneurs, who has built a $100 billion technology company with Zoom, is a great addition to the team. In addition to the most recent investment, Eric’s entrepreneurial journey and experience will be a great intellectual capital for us.”

Arzooo has a number of competitors including Amazon, ShopClues, Flipkart and Zefo. The company, however, claims to have approximately five thousand partner stores since its inception and is expected to spread across the country very soon.

Bill Tai said, “Arzooo has proven its ability to create massive efficiency for operators across thousands of stores by leveraging data to create network effect efficiency in the supply chain, distribution, and logistics for their network of retailers. The result is better selection and pricing for customers throughout the system. This investment should fuel a 10X growth for Arzooo as it accelerates strongly.”

Share
Tags: Technology

Recent Posts

Chandigarh-Dibrugarh Express Derails: Latest Updates and Rescue Efforts

The Chandigarh-Dibrugarh Express derailed yesterday, causing significant disruptions and raising concerns about rail safety nationwide.…

10 hours ago

Pooja Khedkar Controversy: A Timeline of Events

The Pooja Khedkar controversy has recently captured significant public attention after she was accused of…

1 day ago

Muscat Mosque Misfortune: Indian Nationals Among Victims in Devastating Shooting

In a tragic turn of events, a shooting at the Muscat mosque in the Wadi…

2 days ago

The Flood Situation in India: A 2024 Overview

The 2024 monsoon season has brought widespread flood in many parts of India, severely impacting…

2 weeks ago

Hathras Tragedy: Stampede at Spiritual Gathering Claims over 120 Live

Recent news from Hathras highlights one of the most prominent incidents: the tragic stampede at…

2 weeks ago

Sony Calls Off $10 Billion Merger With Zee

Sony blames Zee for not meeting conditions within the deadline and initiates arbitration proceedings seeking…

3 weeks ago