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Home Gadgets GoKwik gets $5.5 million funding from Matrix India, others for overseas expansion

GoKwik gets $5.5 million funding from Matrix India, others for overseas expansion


Mumbai: GoKwik, an ecommerce enablement platform, has raised $5.5 million in a funding spherical led by Matrix Companions India together with participation of RTP World and several other angels.

The capital will probably be used for increasing into the Center East and North Africa, and Southeast Asia areas in addition to hiring for its expertise, knowledge and product engineering groups.

Based in 2020 by Chirag Taneja, Vivek Bajpai and Ankush Talwar, GoKwik makes use of AI/ML to resolve issues like return-to-origin and higher cash-on-delivery conversion charges for etailers in addition to direct-to-consumer manufacturers. Its checkout and UPI options assist enhance checkout conversion charges, guaranteeing increased gross merchandise worth (GMV) realisations, elevated profitability, decreased buyer acquisition prices and elevated supply charges.

“E-commerce enablement gamers will play a pivotal function in fuelling the Indian e-retail market which is projected to the touch $120 billion in subsequent 4-5 years,” CEO Taneja stated. Going ahead, GoKwik will provide personalised options to its prospects, he stated.

GoKwik presently serves greater than 75 manufacturers, together with boAt, Mamaearth, The Man Firm, Heads Up For Tails, The Mothers Co., OZiva, TCNS Clothes Co., LimeRoad, ManMatters, Neemans, The Complete Reality, The Souled Retailer and EyeMyEye.

India is witnessing a surge within the variety of D2C brands because the share of non-marketplace, digital transactions for conventional in addition to new-age manufacturers improve quickly. A few of that is pushed by the pandemic however the pattern is secular.

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“Globally the e-commerce enablement and particularly the one-click checkout house is seeing vital curiosity with a number of massive corporations rising over the past 18 months,” stated Rajat Agarwal, managing director at Matrix India. We consider that the identical will probably be true in India.”

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