3one4 Capital: GoPaani raises seed funding round from 3one4 Capital, among others

Indore: Indore-based GoPaani has raised $600,000 in seed funding from 3one4 Capital, PointOne Capital and a group of angel investors including Mukund Jha (co-founder of Dunzo) among others.

Founded by Ankit Ranka and Arpit Sharda, GoPaani is a one-step solution for every day-to-day water service provider to run their business in a hassle-free manner. GoPaani aims to be a complete app based solution for daily delivery companies in India. Starting with water jar suppliers, this app allows companies to track product inventory from dispatch, delivery, collection and unloading.

Employees of these companies get login information to the application to make delivery entries, and the business administrator can track and generate real-time reports on the work of employees. Customers can also track deliveries, pay bills, give star ratings for deliveries, order additional products, and send messages to business owners – this brings transparency and improves customer experience.

Funded investors include 6 Columbia alumni – Rohit Gupta (CEO, Dream Game Studios), Sharath Gururaj (India Head, Cermati.com), Devendra Laulkar (Co-Founder, Avoma) and others, Satish Thakur (AVP, Swiggy) And two US-based investors are Dan Clay Ellis (founder of RallyTeam) and Kushal Lankar (head of machine learning, S&P Global).

In a statement, Ankit Ranka said, “We have started GoPaani to solve the problems faced by more than 1.2 million water delivery companies in India such as product loss, billing issues, and poor customer service. We have seen dependence with other delivery companies facing similar issues such as milk delivery and tiffin.” With GoPaani already in 15 states across India and 8 different languages, we plan to focus on the water delivery business and product building for a wider range of delivery businesses starting next year.”

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Although more Indians are using digital tools, many small businesses and vendors are still working offline. These companies mainly operate within a radius of 5-8 km and calculate inventory and sales by traditional methods by maintaining ledgers on paper – which is time consuming and prone to incurring losses.

GoPaani is trying to change that by providing these small businesses with a suite of products to digitize their journals and manage their expenses and staff.

In a statement, Arpit Sharda said: “Before GoPaani, I used to work in plastic sourcing, manufacturing and trading. I have seen firsthand the weaknesses in delivery businesses such as water and milk suppliers, and every now and then I receive requests for technical assistance from these companies. When I discussed this matter With Ankit, we decided to launch a digital representation of the day-to-day paperwork that these companies carry – that was the starting point for us. From there on, we continued to build what our customers needed.”

According to studies, there are more than 20 million daily delivery companies in India – water, milk, vegetables, newspapers, gas cylinder, tiffin, laundry, restaurants, inter-company delivery, etc.

In a statement, Anurag Ramdasan, Partner at 3one4 Capital, said, “GoPaani is making a huge impact on the water jar delivery or day-to-day delivery business in general. Daily delivery companies serve billions of customers every day but still rely on pen and paper for collection and inventory management resulting in Inefficiency and thefts.”

As of now, GoPaani has started with its initial network of water supplier contacts in Central India and has used existing online lists to reach a more comprehensive network across the country. In addition, they have reached out to water suppliers from each region by becoming a part of their WhatsApp groups, which helped them reach many customers simultaneously.