After successfully assisting retailers in all major cities of India increased their sales, Ahmedabad-based startup, Reelo, all directed at becoming global.
With the funding of seeds recently, Startup, which was founded in 2017, was looking for the global market.
The company raised an undisclosed amount in the fourth quarter of 2020-21 from the PrS LLP advisor and several other individual investors from Ahmedabad and Mumbai.
Sharing expansion plans, Prit Sanghvi, Co-Founder, Reelo, said, “We plan to go globally with AI-powered marketing solutions.
To start, we are looking at the market in the US, UAE, and New Zealand, among others.” Reelo is Web-based platforms that allow small and medium retailers to increase their sales through marketing solutions and smarter customer involvement, such as loyalty programs, real-time analytic customers, personalized campaigns, and reference marketing solutions, among others.
Startup also plans to improve its technical infrastructure through the recent funding round.
“We plan to add more artificial capabilities (AI) and machine learning (ml) to our platform.
This will help produce smart recommendations to allow retailers to personalize their communication with customers,” said Parin Sanghvi, Reelo, which has clock income growth Of the 40% year-on-year from the start.
At present, Reelo works with retailers in sectors such as food and beverage, beauty and health, food and fashion materials, and retail.
This platform helps retailers make better decisions based on data about their customers including time visits, purchase patterns, frequency visits, among other things, and data retrieval driven by data.
Having worked in 50 Indian cities including Mumbai, Delhi, Ahmedabad, Letters, Kolkata, Jaipur, Chandigarh, Lucknow, Pune, and Vadodara.
It is engaged to at least 2,000 retailers and has around 40 lakh customers on their platform, which has made 1.5 crore transactions.
While Parin is an expert designing products that have worked in Sweden and the US before starting with reelo; Prit is an economic graduate who has established several companies in the previous trade and export exports.
Startup is ready to launch a new version of the platform next week and have added a new tool array.
“We have introduced more channels and a smarter solution for retailers to get better insight into their customers and have also included more facilities.
The platform will also provide free trials to retailers so they can experience it first, and then get involved with us, “Crit said.