Direct2U raises Seed Round from IPV
E-commerce platform Direct2U has raised Rs 1.8 crore in a seed round led by Inflection Point Ventures. This is the maiden round for the Bengaluru-based company.
The company plans to utilize the raised funds to use in technology development, hiring, marketing, and expansion plan, Direct2U stated in a press release.
Founded by Gaurav Ahlawat, Direct2U is a B2B2C-assisted e-commerce platform that provides access to finance and door-to-door delivery for rural markets. Their strong relationships with various brands such as Samsung, Vivo, Prestige, and others allow the rural audience to select from a wide range of products. Its unique OTP mechanism along with visual proof of delivery helps build the trust of MFI partners.
According to Direct2U, it is a consumer durables marketplace that brings together lead generation, order fulfillment, cash (online transfer), and credit purchase options, along with the door-step delivery for the demand-rich, underpenetrated rural Indian consumers in the deep rural pockets of Bharat.
Direct2U has a presence in Bihar, Madhya Pradesh, Karnataka, and Odisha and claims to have 23 warehouses with a growth of 12% in February 2023. Last year, Inflection Point Ventures launched a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage startups.
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