NB Ventures Invests Unknown Amount In Commerceup

Advertisements

Ecommerce as a service platform has raised an undisclosed amount in seed funding. The round was led by NB Ventures, NB Ventures is an early-stage venture fund founded by Mr. Neeleshwar Bhatnagar in 2016 to make investments from his personal assets. Mr. Bhatnagar has acted as a venture capitalist through NB Ventures for 30 plus start-ups.

Commerceup.io, Commerceup is a cloud-based eCommerce platform with a complete suite of integrated tools and expert services to enable the speed, technology, and scale needed by growing brands. Commerceup team started developing the product in 2019 and went live with the first client in Dubai, UAE in august 2020. Since then the company has grown organically & has onboarded more clients to reach a clientele of 40+ across Dubai & India. These brands have seen massive growth by migrating to commerceup and generating sales of around 6 million USD in the past 12 months. Commerceup has focused on enabling e-commerce 2.0 for D2C brands by supporting their unique business needs and transforming business digitally with ease.

Piyush Pathak, Founder of Commerceup said “We believe ecommerce brands should focus on their core products, brand and customers without struggling to scale up and compromising their unique vision. We understand the pain points and resentment of brands managing technology to scale, costly plugins, dependencies on multiple companies to run a successful brand. We built commerceup.io to solve those problems and deliver one unified platform to support 3 pillars of ecommerce :

1. Online storefront
2. Post checkout operations
3. Customers and sales growth

Our vision is to put brands back in charge of their ecommerce journey and commerceup being the premiere ecommerce-as-a-service provider in the ecommerce services industry. 

Commerceup has also partnered with logistics services in India and UAE to simplify logistics and shipment. Multiple commerceup experts have partnered to help D2C brands with customizing the ecommerce as business demands and continue to do so in near future. Commerceup is planning to utilize the raised funds to increase its footprint in the rest of UAE and India region by onboarding a business team and investing further in technology. The Middle east region is entering the third phase of digital adoption and UAE is the most advanced e-commerce market in the region with 4.2% of retail and estimated to reach till 22% by 2022. These businesses are now looking at e-commerce platforms that will future-proof their digital strategies and commerceup fits best by providing them one integrated solution.

Ankit Haldar, Head of technology at commerceup mentioned “We are on a mission to provide technology to brands that are consumed by the leading marketplace. Rather than providing thousand of plugins, We have focused to integrate services that work best in current market and inbuilt in commerceup for ease of use. We are working on automated solutions to help brands generate more sales and make a reliable and scalable eCommerce business.”

Going forward Commerceup plans to expand in other regions of the Middle-East and provide end-to-end ecommerce solutions for D2C brands in the region. 



Categories: Investors

Tags: , , ,

Leave a Reply

%%footer%%