With the help of other angel investors, including Maninder Gulati, Titan Capital co-founders Kunal Bahl & Rohit Bansal, Abhishek Goyal, Nitin Gupta, and V3 Ventures co-founder Arjun Vaidya, Peeko, a fast commerce platform for babycare products, has raised $3.2 million in a funding round led by Stellaris Venture Partners.
According to a press release from Peeko, the money will be used to improve the product experience, increase supply, and hire staff.
Chetan Sharma, Vivek Khetan, and Abhijit Gairola launched Peeko this year with the goal of creating a vertical quick commerce model for babycare products that can be delivered in less than an hour. The platform’s main goals are to give Bengaluru access to more dark stores, carefully chosen products, and in-house delivery.
In each micro-geography, the Bengaluru-based startup hopes to create the ideal selection of high-quality products for customers, facilitating try-and-buy and instant returns while enhancing convenience through quicker delivery.
The startup states that it will launch its app in September and that it is presently operational in ten Bengaluru pincodes with a single 4,000 square foot dark store. Depending on demand, it intends to launch pilot projects in other major cities and expand operations in Bengaluru over the course of the next 12 to 18 months.
FirstCry, a retailer of mother and baby care products, offers same-day delivery in approximately 40 cities nationwide as of November 2024, in line with the growing popularity of vertical quick commerce platforms.
