Google-backed DotPe, which helps businesses in India go online and sell digitally, is in advanced stages of talks to raise about $50 million in a new financing round, a source familiar with the matter told TC.
Temasek, the Singapore state-owned investment firm, is finalizing deliberations to lead the investment in the Gurgaon-headquartered startup, the source said, requesting anonymity as the details are private.
Terms of the investment could change and the deal may end up not materializing at all, the source cautioned. Temasek declined to comment, while DotPe did not respond to a request for comment.
The two-year-old startup, which also counts PayU and Info Edge Ventures as its backers, also helps brick and mortar stores get visibility on Google Search. Restaurants, which are some of the customers of DotPe, use the startup’s offering to scan their inventories to make them digitally accessible via WhatsApp.
These offerings puts DotPe chasing a similar set of audiences as other startups including Zomato, Swiggy and Dukaan.
“DotPe provides a WhatsApp link which opens a restaurant menu and you can order directly and don’t have to go to Zomato / Swiggy. DotPe works with small merchants across other categories –food delivery , apparel ecommerce, pharma,” analysts at Bernstein wrote in a report last year. “DotPe doesn’t do its own delivery but will work with delivery partners for last mile delivery.”
