ⓘ Featured image: Gully Network co-founders: Prateek Chaturvedi (L) and Ajay Nain
Bengaluru, India-based Gully Network, a retail-tech startup that provides full-stack services to mid-sized stores, on Thursday raised $1.2 million in a Pre-Series A round from Venture Catalysts, with participation from Inflection Point Ventures and DFAN (Digital Futurists Angels Network).
The company said that the fresh proceeds will be utilised to scale its presence to at least 100 stores and launch new revenue streams.
Gully Network was founded last year by Ajay Nain and Prateek Chaturvedi. Nain is an IIT-Madras alumnus who previously co-founded RentoMojo, an online rental marketplace for furniture, home appliances, and bikes. Chaturvedi is a graduate of IIM-Ahmedabad and has worked with firms including Cipla and McKinsey.
In November last year, the company raised $700K from Orios Venture Partners.