Gallabox, a conversational e-commerce platform raises $1.2 million

• ByStartupStory     |    November 18, 2022

A conversational commerce platform called Gallabox has acquired USD 1.2 million in seed funding to assist Small and Medium Sized Businesses (SMBs) use WhatsApp to boost sales. 100x Entrepreneur Fund joined Prime Venture Partners in leading the fundraising. Without the use of a mobile app, the no-code conversational commerce platform enables SMBs to increase sales conversions and provide a complete mobile experience to their consumers. Several noted angel investors also participated in the round including Pallav Nadhani (ex-CEO, FusionCharts), Abhishek Rungta (Indus Net Technologies), SV Swaroop Reddy (ex-SPI Cinemas), and Siva Rajamani (Co-Founder & CEO, Everstage).

“We are thrilled to partner with Prime Venture Partners and 100x Entrepreneur Fund as they share our optimism for automating customer conversation workflows for SMBs at scale,” said Karthik Jagannathan, CEO and co-founder of Gallabox. As Indian SMBs develop, digitalization and automation are essential to support their rapid sales development and transformation. We are enthusiastic about the Bharat-SMB opportunity and want to equip one million SMBs with cutting-edge technology and tools that are on an enterprise level to attract and keep customers.

Gallabox, a company founded by Karthik Jagannathan, Yogesh Narayanan, and Yathin Panchanathan, enables SMBs to manage their sales conversions on WhatsApp and put an end to subpar conversion rates and subpar customer experiences caused by outdated tools. More than 500 paying clients have used Gallabox’s D2C, Education, Health & Wellness, Financial, and Travel services since it launched in 2021. These clients include PVR, ShipRocket, Pickyourtrail, Credit Mantri, Goireland, and others in India and 20 other nations. According to a survey by Zinnov, there are 75 million SMBs in India, 20 million of which are digitally affected. SMBs struggle to convert leads they produce for digital customer acquisition because of the opaque nature of customer discussions, the number of touchpoints involved, and their reliance on sales team members for updates. It is impossible to keep track of potential conversations, direct them to the appropriate team members, obtain transparency regarding customer interactions, foster improved team collaboration, and ultimately close the deal. Contrary to huge corporations, the majority of SMBs cannot afford to create interactive experiences like a smartphone app.

“Karthik, Yathin, and Yogesh are enthusiastic about hyperlocal and SMBs like no other team we’ve met,” said Sanjay Swamy, managing partner of Prime Venture Partners. Supporting them was an easy choice for us at Prime because of their profound insights. It goes without saying that these businesses must undergo a digital and automated transformation over the next two to three years. Business owners will be able to concentrate on their core operations while modernising and automating customer conversations to compete with major players on an equal footing with the aid of Gallabox’s WhatsApp automation with a quick start ready-to-use tool. Gallabox helps companies to communicate with clients on WhatsApp instantaneously, comprehend their needs, and provide a collaborative experience. Gallabox is the always-on “digital agent” that helps businesses meet the needs of modern customers and increase sales. A sophisticated but easy-to-use, no-code bot is layered with the multi-agent team inbox and campaign features, fusing the simplicity of messaging with the strength of automation. With more than two billion users worldwide, including more than 500 million in India alone, and SMS becoming more and more prone to spam, companies are quickly realising WhatsApp is the best way to connect with their clients. Small and medium-sized businesses lack the funds and technical know-how to create sophisticated solutions like those that enterprises may use to interact with and conduct business with their clients on WhatsApp. Gallabox makes it simple for these companies to get up and running quickly, utilising a pre-built library of templates to provide clients with a top-notch experience that converts customer conversations into sales.

“The Gallabox team’s understanding of the demands of SMBs is unique in the sector,” stated Siddhartha Ahluwalia of the 100x Entrepreneur Fund. They took advantage of three significant trends. First of all, WhatsApp is an Indian corporate communication programme. Second, SMBs seek to use customer data for the first time to improve interactions with their customers and boost sales. Thirdly, businesses no longer need to communicate with clients via SMS. The Gallabox investment supports our fund’s guiding principle of supporting exceptional seed-stage SaaS startups led by founders with distinctive perspectives and expertise in their respective markets. Prime Venture Partners, which is currently investing from its USD 120 million Fund IV, is frequently the first institutional investor in startups in the Fintech, SaaS, and Digital India sectors and focuses on businesses with an original strategy for resolving fundamental problems through technology. The goal of Prime is to collaborate with entrepreneurs early on to create world-class digital businesses that are solving some of India’s most pressing issues. International Finance Corporation (IFC), a member of the World Bank Group, a prestigious university endowment, international family offices and institutions, and numerous international technology entrepreneurs are among Prime’s notable Limited Partners.

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