E-commerce Startup Direct2U Raises Rs 1.8 Cr Seed Funding
B2B2C e-commerce startup Direct2U has secured Rs 1.8 crore in a seed funding round led by Inflection Point Ventures (IPV).
As per the startup, the freshly raised funds will be utilised for technology development, recruitment, marketing, and expansion plans.
Direct2U | B2B2C E-commerce Startup
Founded by Gaurav Ahlawat and Anshuman Maheshwari in December 2022, Direct2U is a Gurugram-based consumer durables marketplace.
Operated by Flow Commerce Pvt Ltd, the Gurugram-based startup brings together lead generation, order fulfilment, cash (online transfer) and credit purchase options, along with doorstep delivery for the demand-rich, underpenetrated rural Indian consumers in the deep rural pockets of India.
Speaking about the development, Gaurav Ahlawat, Founder of Direct2U, said,
“Great experience dealing with IPV, a team of thorough professionals working closely with founders to understand the business in minute details from all perspectives. The fact that rural commerce, with tech-enabled last-mile delivery, along with a user-friendly frontend platform, can be executed with positive unit-level economics is a winning factor.”
It is an assisted e-commerce platform that intends to revolutionise the rural market by providing financing options and doorstep delivery services. The startup leverages its robust relationships with well-known brands like Samsung, Vivo, Prestige, and others to offer a wide range of products to the rural population.
Currently, the B2B2C e-commerce startup covers Bihar, Madhya Pradesh, Karnataka, and Odisha. It started generating revenue in January 2023 and observed a growth of 12 percent in February 2023.
Commenting on the development, Mitesh Shah, Co-founder at Inflection Point Ventures, said,
“Direct2U is solving all the connectivity problems and has created an integrated structure on one platform. We believe their growth trajectory and growth plans, along with our support and network, will help the Company to establish their leadership in this segment.”
As per a report by the Internet and Mobile Association of India (IAMAI), there will be around 900 million internet users in India by 2025. Between 2020 and 2030, tier ll and below locations in rural India are expected to add 88 percent of online shoppers and $7 billion in cumulative incremental online retail transactions.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.