Google-backed DotPe raises $54.4 million in funding led by Temasek
- ByStartupStory | September 16, 2022
Google-backed e-commerce trading and payments platform DotPe (Dot) has bagged funding in a fresh round led by Singapore’s sovereign fund Temasek. This is the second funding round in the last 18 months for the Gurugram-based startup.
Moreover, DotPe’s board of directors has passed a special resolution or memorandum stating the issue of 20 equity shares and 7,327 (CCPS) compulsory cumulative preference shares at a specific issue amount of INR 5,91,525 for a share to raise INR 435 cr or $55 mn.
Temasek (through V-Sciences Investment company) has led the funding round with approximately INR 150 cr or $19 mn. Moreover, PayU Fintech Investment enterprise pumped in INR 91.74 cr or $11.2 mn.
As per a report, the company’s market value is around $245 to 250 million approximately (after allotment). This is a drastic three-times increase in its market valuation when we compare it to its last funding round.
Founded in 2020 by Gyanesh Sharma, Shailaz Nag, and Anurag Gupta, DotPe is a payment services provider to offline and online e-commerce businesses. Moreover, it also helps offline startups and businesses to go online and provides services for order management. The startup states that across the globe, more than 7.5 million merchants utilise its services. Barista, Social, The Big Chill Cafe, and Wat-a-Burger are some of the brands using its services.
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