3one4 Capital: GoPaani raises seed round from 3one4 Capital, others

INDORE: Indore-based GoPaani has raised $600,000 seed funding from 3one4 Capital, PointOne Capital, and a host of angel investors, including Mukund Jha (Co-founder of Dunzo), among others.

Founded by Ankit Ranka and Arpit Sharda, GoPaani is a one-stop solution for all daily water service providers to run their business seamlessly. GoPaani aims to be a complete app-based solution for daily delivery companies in India. Starting with water jug ​​vendors, this app allows businesses to track product inventory from shipping, delivery, pickup, and unloading. Employees of these companies get their login from the app to make delivery entries, and the company administrator can track and generate real-time reports on the work of the employees. Customers can also track deliveries, make bill payments, give delivery star ratings, order additional products, and message business owners; this provides transparency and improves the customer experience.

Angel investors include 6 Columbia University alumni: Rohit Gupta (CEO, Dream Game Studios), Sharath Gururaj (India Head, Cermati.com), Devendra Laulkar (Co-Founder, Avoma) and others, Satish Thakur (AVP, Swiggy ) and two American investors Dan Clay Ellis (founder, RallyTeam) and Kaushal Lahankar (head of machine learning, S&P Global).

In a statement, Ankit Ranka said: “We started GoPaani to solve the problems faced by more than 1.2 million water supply companies in India, such as product loss, billing issues, poor customer service. We have seen adoption with other delivery companies facing similar issues, such as milk and tiffin delivery. With GoPaani already present in 15 states in India and in 8 different languages, we plan to focus on water supply businesses and develop the product for a broader set of supply businesses from next year.”

Although more Indians use digital tools, many small businesses and vendors continue to operate offline. These businesses mostly operate within a 5-8km radius and calculate inventory and sales in the traditional way by keeping paper ledgers, which are time consuming and prone to loss.

GoPaani is trying to change that by equipping these small businesses with a suite of products to digitize their magazines and manage their expenses and staff.

In a statement, Arpit Sharda said: “Before GoPaani, I was in the sourcing, manufacturing and trading of plastic. I saw very closely the pain points of delivery companies, such as water and milk providers, and from time to time I received requests for technological help from these companies. When I discussed this with Ankit, we decided to release a digital representation of the daily sheets these companies carry; that was the starting point for us. From there, we continued to build what our customers needed.”

According to studies, there are more than 20 million daily delivery businesses in India: water, milk, vegetables, newspapers, gas cylinders, tiffin, laundry, catering, B2B delivery, etc. From a software subscription perspective, that’s a $2.3 billion annual market.

In a statement, Anurag Ramdasan, a partner at 3one4 Capital, said: “GoPaani is having a significant impact on the delivery of water jugs or the daily delivery business in general. Daily delivery businesses serve billions of customers every day, but still rely on pen and paper for collections and inventory management, resulting in inefficiency and theft.”

As of now, GoPaani has started with its initial network of water supplier contacts in central India and has used existing online listings to reach out to a more comprehensive network across the country. Additionally, they have connected with water providers from all regions by joining their WhatsApp groups, which has helped them reach many customers at once.

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