Conversational Commerce Platform Gallabox raises USD 1.2M to Help SMBs Increase Sales & Offer Better Customer Experience on WhatsApp
Investors: Prime Venture Partners,100x Entrepreneur Fund and other strategic angels
Chennai, 17 November 2022: Gallabox, a conversational commerce platform which helps Small and Medium Bu sinesses (SMBs) increase their sales through WhatsApp has raised USD 1.2 million in seed funding. The fund ing was led by Prime Venture Partners with participation from 100x Entrepreneur Fund. The no-code conver sati on al commerce platform leverages WhatsApp Business API to help SMBs improve their sales conversions and offer a full mobile experience to their customers without the need for a mobile app. Several noted angel inve tors also participated in the round including Pallav Nadhani (ex-CEO, FusionCharts), Abhishek Rungta (Indus Net Tec hnol ogies), SV Swaroop Reddy (ex-SPI Cinemas), and Siva Rajamani (co-Founder & CEO, Everstage).
Founded by Karthik Jagannathan, Yogesh Narayanan & Yathin Panchan athan, Gallabox empowers SMBs to man age their sales conversions on Wh atsApp, putting an end to poor conversions and broken customer experi ence using legacy tools. Since its inception in 2021, Gallabox has a roster of more than 500 paying customers includin g PVR, ShipRocket, Pickyourtrail, Credit Mantri, Goireland etc. across D2C, Education, Health & Wellness, Finan cial and Travel services in India and across 20 other countries.
India is home to 75 million SMBs with 20 million of them digitally influe nced, according to a report by Zinnov. Acquiring customers digitally, SMBs spend enormous efforts and marketing budgets to generate leads, but stru ggle to convert them because of opacity of customer conversations, multi ple touch-points, and dependence on sales team-members to provide upd ates. There is no way to keep track of prospective conversations, strea mline them to the right team-members, get transparency to customer interactions, enable greater team colla boration, and finally take the prospect to closure. Most SMBs cannot afford to develop interactive experiences like a mob ile app unlike large companies.
Gallabox enables businesses to interact with their customers instantly on WhatsApp, understand their req uire ments and offer a collaborative experience. Gallabox is the always-on ‘digital agent’ for businesses to deal with new customer expectations and sell better. The multi-agent team inbox and campaign features are layered with a sophisticated but simple-to-use, no-code bot, thereby marrying the ease of messaging with the power of auto mation.
With more than two billion users on WhatsApp and more than 500 million in India alone, coupled with SMS be coming increasingly spam-prone, businesses are fast discovering WhatsApp to be the best way to connect with their customers. While enterprises have the resources to build interactive tools to communicate and transact with their customers on WhatsApp, small & medium-sized businesses do not have the budget or skill-sets to bu ild these sophisticated tools. Gallabox makes it easy for such businesses to be up and running in a matter of mi nutes and leverage a pre-built library of templates to deliver a world class experience to clients, turning custo mer conversations into sales.
Currently investing out of its USD 120 million Fund IV, Prime Venture Partners is typically the first institutional investor in startups in Fintech, SaaS and Digital India, and focuses on companies with an innovative approach to solving fundamental problems through technology. Prime’s mission is to partner early with entrepreneurs and help build world-class technology companies that are addressing some of India’s most important problems. Pri me’s prominent Limited Partners include International Finance Corporation (IFC), part of the World Bank Group, a top-tier University endowment, global family offices and institutions, and numerous global technology entrepreneurs.
Supporting Quotes
Karthik Jagannathan, CEO & Co-founder, Gallabox
“We are thrilled to partner with Prime Venture Partners and 100x Entrepreneur Fund as they share our optimi sm for automating customer conversation workflows for SMBs at scale. Indian SMBs are maturing and there is an immediate need for digitisation & automation to help them with rapid sales growth and transformation. We are excited about the Bharat-SMB opportunity and want to empower a million SMBs with enterprise-level sop histicated tech and tools to acquire and retain customers.”
Sanjay Swamy, Managing Partner, Prime Venture Partners
“Karthik, Yathin and Yogesh are passionate about hyperlocal and SMBs like no other team we’ve met. Their deep insights made backing them a simple decision for us at Prime. It’s no secret that, around the world, such business es have to be transformed in the next 2-3 years through digitization and automation. Gallabox’s WhatsApp auto mation with a quick start ready-to-use tool will help business owners focus on their core business while moderni zing and automating customer conversations to compete with big players on an equal footing.”
Siddhartha Ahluwalia, 100x Entrepreneur Fund
“The Gallabox team’s understanding of the needs of SMBs is unparalleled in the industry. They have leveraged three important trends. Firstly, WhatsApp is the business communication application of India. Secondly, SMBs for the first time want to leverage customer data to drive better relationships with their customers and to incr ease sales. Thirdly, SMS has become a redundant medium for businesses to reach out to customers. The Gallabox investment matches our fund thesis of backing exceptional seed stage SaaS startups run by founders who have unique insights and experiences in the markets they operate in.”
About Gallabox
Gallabox is a growth engine on WhatsApp for SMBs and mid-market businesses. An easy-to-use, no-code conv ersational platform, Gallabox increases sales conversions for SMBs. The company’s mission is to empower busi nesses to make lasting connections with their customers.Founded in 2021, the company is headquartered in Ch ennai. To know more, please visit: https://gallabox.com/.
About Prime Venture Partners
Prime Venture Partners is an early-stage VC fund managed by partners with deep experience both as entrepren eurs and operators. Led by Amit Somani, Sanjay Swamy & Shripati Acharya, the fund is focused on building disr uptive product companies out of India, and addresses a much needed gap in the Indian startup ecosystem – by bringing a combination of first-hand entrepreneurial experience, operating expertise and meaningful capital. Prime is a high conviction, high support investor and believes in backing star teams with differentiated ideas. Prime has a rich portfolio of category creating companies including Quizizz, MyGate, Dozee, Ezetap, NiYO, Happay, KredX, WheelsEye and more. For more information, please visit www.primevp.in.
