Amazon acquires Perpule for Rs 108 cr
By MYBRANDBOOK
Amazon Technologies has acquired Bengaluru-based retail tech start-up Perpule for about Rs 107.6 crore. The acquisition will allow Amazon to offer Perpule's 'UltraPoS' and other new technology products to its kirana partners.
The acquisition will allow early investors in Perpule to exit with 4-5 times returns, Mint, which accessed the regulatory filings filed by the start-up with the Reserve Bank of India (RBI), said.
Amazon is also likely to pay additional remuneration to Perpule's employees, which will take the deal value to about Rs 150 crore, the publication cited two sources as saying.
In November 2018, Perpule had raised $4.7 million in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Most of Perpule's employees, including co-founders Abhinav Pathak, Saketh BSV and Yogesh Ghaturle, are likely to join Amazon, it said.
An Amazon India spokesperson said Perpule's cloud POS will help offline stores manage their operations better. "Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process, and overall customer experience. We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers," the spokesperson said.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Cisco building a trusted and resilient future for the nation
Security is foundational to everything Cisco does and customers insist on e
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
PDRL - Passenger Drone Research Pvt. Ltd.
WIPRO LTD.
SAFE SECURITY SERVICES PVT. LTD.
VEHERE INTERACTIVE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : S KRISHNAN
S Krishnan as the secretary for the electronics and information techno...
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : Puneet Chandok
Puneet Chandok is President, Microsoft India & South Asia and is respo...
PARTNER SPEAKERS
PSU
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
UIDAI - Unique Identification Authority of India
UIDAI and the Aadhaar system represent a significant milestone in Indi...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - JAY CHAUDHRY, CEO – Zscaler
Jay Chaudhry, an Indian-American technology entrepreneur, is the CEO a...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
