Direct2U raises Rs 1.8 crore in seed funding led by Inflection Point Ventures for rural e-commerce expansion
- ByStartupStory | April 14, 2023
Direct2U, an e-commerce platform based in Bengaluru, has raised Rs 1.8 crore in its first seed funding round led by Inflection Point Ventures. The company has announced that it intends to use the funds for technology development, hiring, marketing, and expansion.
Direct2U is an e-commerce platform operating on a B2B2C model, established by Gaurav Ahlawat. The platform offers assistance for finance and doorstep delivery to rural markets, while also providing access to a diverse range of products from popular brands like Vivo, Samsung, Prestige, and others. Direct2U’s innovative OTP mechanism, combined with visual proof of delivery, plays a crucial role in gaining the trust of its MFI partners.
Direct2U describes itself as a marketplace for consumer durables, offering a range of services such as lead generation, online payment options, credit purchases, and door-to-door delivery to meet the demand of rural Indian consumers in remote regions of Bharat, which are currently underpenetrated.
Direct2U currently operates in Bihar, Madhya Pradesh, Karnataka, and Odisha, and reports a 12% growth in February 2023, with a total of 23 warehouses. In the past year, Inflection Point Ventures introduced Physis Capital, a $50 million CAT 2 AIF that aims to invest in startups in their pre-Series A to Series B growth stages.
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