Rapidly growing baby care product delivery service Peeko secures $3.2 million in funding
Peeko, a Bengaluru-based quick commerce platform specialising in babycare products, has announced that it has raised $3.2 million in a seed funding round. The funding round was led by Stellaris Venture Partners, with participation from Maninder Gulati, Kunal Bahl and Rohit Bansal, Abhishek Goyal, Nitin Gupta, and Arjun Vaidya.
Founded this year by Chetan Sharma, Vivek Khetan, and Abhijit Gairola, Peeko promises curated babycare essentials delivered in under 60 minutes. The fresh capital will be used for expanding supply, enhancing the product experience, and deepening its presence in Bengaluru by adding multiple dark stores over the next 12 to 18 months.
The baby and kids' market, according to Mayank Jain, principal at Stellaris Venture Partners, is large, fragmented, and largely unbranded. He mentions that the market has attractive gross margins, making it an attractive investment opportunity. Peeko's essentials span apparel, accessories, toys, gear, and consumables.
To provide a seamless shopping experience, Peeko is working on replicating offline shopping confidence in a digital format. The startup is also developing features such as "try and buy" and instant return options. In addition, AI is being deployed for personalised product recommendations.
Peeko currently operates in 10 Bengaluru pin codes with a 4,000-square-foot dark store. The company plans to begin pilots in other metros based on demand, over the next 12 to 18 months. The startup is also hiring talent with the fresh capital to support its growth.
In September, Peeko plans to launch its mobile app, further streamlining the shopping experience for its customers. The app will allow users to easily browse and purchase babycare essentials, with the assurance of quick delivery.
With its focus on babycare products, Peeko aims to simplify the shopping experience for parents, providing them with high-quality, curated essentials delivered quickly and conveniently. The company's commitment to customer service and innovation sets it apart in the competitive e-commerce market.
