Woolpr, a Banaglore-based startup focusing on hyper-local discovery of products, has secured $5 million in funding led by Helion Venture Partners.
The funds will primarily be used to hire top talent, expand the team and grow the Wooplr community as a whole. This infusion of funds will see Mr. Rahul Chandra, Co-Founder and Managing Director, Helion Ventures join Wooplr’s Board of Directors.
Founded in March 2013 by Praveen Rajaretnam, Arjun Zacharia, Soumen Sarkar, and Ankit Sabharwal, Wooplr currently has 14,000 shops listed on its website, and plans to increase up to 100,000 in the coming year. It has about 1 lakh users, 80% of whom are women. It connects people with local businesses based on interests, location and social circles. Also, the firm helps people discover new products from stores around them, through genuine recommendations from friends & other social influencers.
The company previously raised $225,000 from a group of angel investors including Rahul Khanna, Sunil Kalra, Vivek Pandit and Jaspreet Bindra.