ChattyBao

Key Highlights:

  • Delhi-based hyperlocal startup ChattyBao has raised over $5 Mn funding in its seed round.
  • ChattyBao plans to use these funds in the development of the product and launch its app in two to three Tier-1 and 2 cities.
  • The company competes with Zepto, BigBasket, and Milkbasket in the hyperlocal segment.

Delhi-based hyperlocal startup ChattyBao has raised over $5 Mn funding in its seed round. The funding round was led by Vertex Ventures Southeast Asia & India and Info Edge Ventures.

The funding round saw the participation from 7Square Ventures and a slew of angel investors. It was founded by Kumar Aditya and Varun Gupta in October 2021. It is an online platform that connects consumers with local businesses or merchants. At present, the startup is in stealth mode and its app will be launched in the third week of August this year.

ChattyBao plans to use these funds in the development of the product and launch its app in two to three Tier-1 and 2 cities.

The founder and CEO Aditya said, “There is no need for users to download any app. We are going to connect merchants around them. We have created an app that helps merchants process orders, while we have built features within WhatsApp that connect users with shopkeepers to eliminate the learning curve.”

ChattyBao plans to offer customers a complete shopping experience over WhatsApp. Consumers can use WhatsApp to find local businesses around them, chat with them (including offline tailors, vegetable vendors, pharmacies, etc), order products from them, make online payments, and receive home delivery. In the simplest terms, ChattyBao is a marketplace for local businesses to sell products and services to consumers.

In addition to having rich experiences in building different business verticals, the founding team possesses a diverse array of skills. For instance, Varun Gupta was previously the director of B Capital Group, while Kumar Aditya was previously the chief business officer for Paytm.

According to Aditya, “ChattyBao will help them provide e-commerce experience to their users, effectively competing with online players.”.

The company competes with Zepto, BigBasket, and Milkbasket in the hyperlocal segment.

According to a report, India’s hyperlocal services market will reach $4.6 Bn by 2026, growing at a CAGR of 19.6% between 2022 and 2027 from $1.4 Bn in 2021.

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