Founders: Sachin Chhabra and Nidhi Ramachandran
Financing status: Undisclosed Series-B Funding
Delhi and Jaipur-based SaaS (software-as-service) platform Peel-Works raised an undisclosed amount in Series-B funding from Unilever Ventures, the private equity firm of Unilever and Amazon Internet Services Pvt. Ltd. Unilever is a London-based early-stage investor in food companies, personal care, and other consumer products, and will assume a seat on the Peel-Works board as part of the deal. The investment is the firm’s first in India. Two existing investors, Inventus Capital Partners and IDG Ventures India, also participated in the funding round. Reportedly, Peel-Works will direct the newly raised capital towards product development, team building, and international expansion.
Peel-Works is a consumer sector-based SaaS and big data analytics company. The startup’s network of 5,000 retailers provides the startup with a range of data on consumer behavior and product sales. According to its website, Peel-Works’s products and services “irreversibly alter how grocery stores buy their inventory, how they sell that to their shoppers and how these stores deploy their capital.” They work to make grocery stores more profitable, increase customers, eliminate unnecessary expenses, and deliver higher value products, all in an effort to help businesses “do more, each day.” Ultimately, Peel-Works helps grocery vendors understand and connect with their customers more effectively, thus driving customer loyalty.
Peel-Works was founded in 2010 by Sachin Chhabra and Nidhi Ramachandran. Chhabra is a graduate of St. Stephen’s College, Delhi and has more than 10 years of experience at Unilever. Ramachandran holds an MBA from The Indian School of Business and has prior experience as an HR Manager and trainer at Teach for India and Tetra Media, Pvt Ltd.
(Top Image from Pixabay.com)