Amazon Technologies, a subsidiary of e-commerce behemoth Amazon.com Inc, has paid Rs 107.6 crore for Bengaluru-based retail tech start-up Perpule.
Amazon will be able to sell Perpule’s ‘UltraPoS’ and other emerging technology products to its kirana partners as a result of the acquisition.
According to Mint, which accessed Perpule’s regulatory filings with the Reserve Bank of India (RBI), the acquisition would enable early investors to exit with 4-5 times returns.
In November 2018, Perpule had raised $4.7 million in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway.
According to the publication, Amazon is expected to pay extra remuneration to Perpule’s staff, bringing the total deal value to about Rs 150 crore.
It is expected that the majority of Perpule’s employees, including co-founders Abhinav Pathak, Saketh BSV, and Yogesh Ghaturle, will join Amazon.
Perpule’s cloud POS would help offline stores handle their operations better, according to an Amazon India spokesperson who confirmed the news of the acquisition. “Perpule has developed a cutting-edge cloud-based point-of-sale system that helps offline retailers in India better manage their inventory, checkout process, and overall customer experience. We are delighted to have the Perpule team join us in our mission to provide growth opportunities for businesses of all sizes in India while also raising the bar for Indian customers’ shopping experiences “a spokesperson for the company was quoted as saying