Mumbai based SaaS and big data analytics company, Peel-Works has announced that it has secured an investment from Unilever Ventures as part of its series B round.
Existing investors Inventus Capital Partners and IDG Ventures India were also present in the round led by Unilever Ventures, who will be joining the board of the company.
Peel-Works platform helps retailers drive higher shoppers’ loyalty, optimising their store assortments and inventory levels, thereby reducing operational costs.
Sachin Chhabra, founder and CEO, Peel-Works, said, “The investment by Unilever, one of the world’s largest consumer goods companies, marks an important milestone for Peel-Works and brings a great validation of our model and vision. With their constant support and mentorship, we hope to create new benchmarks in building world-class SaaS products to serve our clients better.”
Unilever Ventures is the venture capital and private equity arm of Unilever and invest in early stage, promising companies, to accelerate growth by providing access to Unilever’s global ecosystem, assets and expertise.
Olivier Garel, head of Unilever Ventures said “There is a great opportunity to empower the large traditional trade in fast growing markets leveraging technologies at the point-of-sale. Insights generated can be used by consumer packaged goods, ecommerce, fintech or Cash & Carry players to develop innovative solutions, improve services and sales force performances. Peel-works is taking a lead in this and we are excited to partner with them in this journey”
Peel-Works will use the fresh round of funds to further strengthen its product and technology offering, building a stellar leadership team and expanding in more geographies.