Elevation leads $3.5m seed round of ex-Uber Eats exec’s social commerce startup

Elevation Capital has led a US$3.5 million investment in Ping, a social commerce startup based in India.

The company plans to use the new funds for platform innovation and development as well as to hire more staff and expand across all metropolitan cities in the country.

Ping founder Vartika Bansal / Photo credit: Ping

Established in 2020 by Vartika Bansal, who had stints at Uber Eats and Oyo, Ping enables commerce and communication for agricultural producers, local manufacturers, and home-based business owners among residential communities.

The startup currently has more than 400 active residential communities on its platform and is looking to add over 3,000 more by the end of the year. The sellers include more than 500 businesses and individuals who offer baked goods, agricultural produce, pet supplies, and home decor items, among others.

Ping allows residents to check and exchange recommendations, and then buy together from the business of their choice. They can also refer authentic local businesses to be onboarded to the platform after a verification process.

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“Urban consumers are increasingly opting for unique products over mass-produced alternatives. Ping is making it really easy for consumers to discover and buy from these makers, while enabling makers’ to sell, build a brand, and create and maintain a loyal customer base,” said Mukul Arora, partner at Elevation Capital.