GobbleCube, a brand analytics platform, has raised $1.9 million (INR 15.7 crore) in a seed funding round led by Kae Capital, with participation from CRV and a group of angel investors.
The Gurugram-based startup plans to utilize the fresh capital to enhance its product development capacity and build a product market strategy, starting with India, Southeast Asia, and the US.
“Brands have to manage not just one, but multiple platforms. But they are operating with limited amounts of data. So, solving that puzzle with a limited amount of data was a mammoth challenge for them and I think that was the core purpose with which we built out GobbleCube,” the Economic Times reported, citing the startup’s cofounder and CEO Manas Gupta.
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GobbleCube, founded by former Blinkit executives Manas Gupta, Srikumar Nair, and Nitesh Jindal, specializes in offering revenue management solutions to consumer packaged goods (CPG) brands through data automation and decision support across the ecommerce chain.
The offerings of the startup closely resemble those of OopDoor, the new venture by Flipkart co-founder Binny Bansal.
Bansal, through his investment arm Three State Ventures, recently injected $2 million into the startup. OopDoor, a SaaS platform, targets ecommerce companies seeking expansion into new regions. Its services encompass advertising strategies and improved catalog offerings.
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Additionally, OopDoor operates in Southeast Asia and the US, though it has not yet initiated operations in India.
Estimates suggest that with a 52% internet penetration rate in India, the potential for ecommerce in the country could reach $400 billion or more by 2030. Reports indicate there are over 5,000 active ecommerce startups in the nation. Given this rapid growth in a fiercely competitive market, strategic planning for market expansion is imperative for brands.
