Samreen Ahmad · · 1 min readSequoia India leads $15m round in ecommerce enabler startup
GoKwik, an ecommerce enablement startup, raised US$15 million in a series A round led by Sequoia Capital India.
GoKwik’s founding team (from left): Ankush Talwar, Chirag Taneja, and Vivek Bajpai / Photo credit: GoKwik
The round also saw participation from existing investors Matrix Partners India and RTP Global.
GoKwik will invest the fresh funds in doubling the size of its product and tech teams and for developing new products.
Founded in 2020 by Chirag Taneja, Vivek Bajpai, and Ankush Talwar, GoKwik uses its proprietary AI and machine learning models to help increase cash-on-delivery conversion rates and reduce the return of orders. Its checkout and UPI (unified payments interface) solutions also help improve checkout conversion rates, according to the company.
“The D2C (direct-to-consumer) sector will do over US$50 billion of GMV (gross merchandise value) this year. The GoKwik team has identified a brilliant wedge into this market to solve merchants’ pain points of cart conversions at checkout and high returns on cash on delivery,” said Ashish Agrawal, managing director at Sequoia Capital India.
See also: The decade of D2C has just begun in India
Some of the startup’s D2C clients include Mamaearth, Good Glamm Group, boAt, OZiva, and The Souled Store.
Editing by Arpit Nayak
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