ShopHop raises angel round to the tune of USD 100,000
ShopHop to use the investment to recruit talent, boost omni-channel distribution, and marketing
Published - 06-January-2017
Mumbai-based e-commerce marketplace ShopHop (Pod Conceptions Services) has raised its angel round from an undisclosed private investor this month. According to sources, the total funding is a “little less than USD 100,000” and the start-up will be using the acquired amount to boost its marketing efforts, offline sales, and omni-channel distribution.
“ShopHop plans to use these funds to recruit high-quality talent, boost our recent foray into offline sales and omni-channel distribution, and invest in marketing initiatives to raise customer and supply side awareness of the platform. The expected runway for these funds is 8-10 months,” said Anirban Poddar, Founder and CEO, ShopHop, on Thursday.
ShopHop is an e-commerce platform, which serves as a curated marketplace for natural, artisanal, and home-grown food products. It is a place for food entrepreneurs and independent brands to showcase their products and stories, and for customers to discover and explore new and exciting brands.
In October 2016, ShopHop forayed into offline distribution of its partner brands with the pilot initiative ‘Grab & Go’ to encourage mindful and healthy snacking through products provided by food makers on ShopHop at the pantries and canteens of offices. The startup has also started distributing food products of its vendors to restaurants and restaurant chains as cooking ingredients and for on-site sales.
In the future, ShopHop aims to provide customer data analytics and actionable insights to entrepreneurs as a value-added service to understand consumer preferences and feedback for their brands.
Another key aspect that ShopHop is currently working on is integrating popular food bloggers and critics across Mumbai into the ShopHop community. As part of this initiative, bloggers and critics will play a central role in sampling products to provide budding entrepreneurs their feedback and also publicly share their curations, reviews, and recommendations to help customers discover new feeds with some advice.