Peel-Works raises $2.8 mn from CESC Ventures
Summary
Mumbai based software-as-a-service (SaaS) startup Peel-Works, which operates business-to-business (B2B) ecommerce platform Taikee, has raised $2.8 million (around Rs 21 crore) in a growth round from CESC Ventures, the investment arm of Sanjiv Goenka-led energy company CESC. Its flagship platform, Taikee, delivers products to retail shop owners at a lower cost and also helps to bring down inventory costs of kirana shops. Some of its offerings overlap with those provided by major B2B ecommerce players such as Udaan, Jumbotail and Flipkart-owned Ninjakart. Recently, Walmart and Flipkart jointly acquired a stake in Ninjakart. Although the B2B ecommerce space is highly competitive, there is a lot of space for the players to grow as all the firms put together have onboarded merely a fraction of kirana shops on their platforms.