About ShopX
ShopX is a company based in Bengaluru (India) founded in 2015 by Apoorva Jois.. ShopX has raised $78.71 million across 7 funding rounds from investors including Rajesh Ranavat, Sandhya Ranavat and Kewal Krishna Kohria. The company has 36 employees as of March 21, 2024. ShopX has completed 1 acquisition, including GabbarDeals. ShopX offers products and services including ShopX App. ShopX operates in a competitive market with competitors including Warung Pintar, 1K, Vilcart, Frendy and Kilo, among others.
- Headquarter Bengaluru, India
- Employees 36 as on 21 Mar, 2024
- Founders Apoorva Jois
- Stage Minicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name 10I Commerce Services Private Limited
- Date of Incorporation 10 Mar, 2015
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$8 M (USD)-90.04as on Mar 31, 2022
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Net Profit
$-14.97 M (USD)4.85as on Mar 31, 2022
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EBITDA
$-12.86 M (USD)4.99as on Mar 31, 2022
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Total Equity Funding
$78.71 M (USD)
in 7 rounds
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Latest Funding Round
$1.49 M (USD), Angel Round
Feb 28, 2020
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Investors
Fung Group
& 4 more
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Employee Count
36
as on Mar 21, 2024
- Investments & Acquisitions
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Products & Services of ShopX
ShopX offers a comprehensive portfolio of products and services, including ShopX App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for earning discounts and cashbacks on local purchases via UPI
Funding Insights of ShopX
ShopX has successfully raised a total of $78.71M across 7 strategic funding rounds. The most recent funding activity was a Angel Round round of $1.49 million completed in February 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Angel Round — $1.5M
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First Round
First Round
(23 Apr 2015)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2020 | Amount | Angel Round - ShopX | Valuation | Rajesh Ranavat | |
| May, 2019 | Amount | Series A - ShopX | Valuation | Fung Group | |
| May, 2018 | Amount | Series A - ShopX | Valuation | Fung Group |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ShopX
ShopX has secured backing from 5 investors, including angel and institutional investors. Prominent investors backing the company include Rajesh Ranavat, Sandhya Ranavat and Kewal Krishna Kohria. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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A holding company specializing in supply chain management and trading activities.
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Founded Year | Domain | Location | |
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RR
Rajesh Ranavat |
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Founded Year | Domain | Location |
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SR
Sandhya Ranavat |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by ShopX
ShopX has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include GabbarDeals. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Electronic products and accessories are sold via an e-commerce platform.
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2000 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - ShopX
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Shopx Comparisons
Competitors of ShopX
ShopX operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Warung Pintar, 1K, Vilcart, Frendy and Kilo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Retail aggregator solutions are offered to local merchants in Indonesia.
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| domain | founded_year | HQ Location |
Platform offering retail store aggregating solution for grocery stores
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| domain | founded_year | HQ Location |
Tech-enabled logistics solutions are provided for rural retailers in India.
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| domain | founded_year | HQ Location |
Digitized convenience store network solutions for retailers
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| domain | founded_year | HQ Location |
Retail aggregating solutions are provided for small and medium businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Shopx
Frequently Asked Questions about ShopX
When was ShopX founded?
ShopX was founded in 2015.
Where is ShopX located?
ShopX is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Is ShopX a funded company?
ShopX is a funded company, having raised a total of $78.71M across 7 funding rounds to date. The company's 1st funding round was a Series A of $35M, raised on Apr 23, 2015.
How many employees does ShopX have?
As of Mar 21, 2024, the latest employee count at ShopX is 36.
What is the annual revenue of ShopX?
Annual revenue of ShopX is $8M as on Mar 31, 2022.
What does ShopX do?
ShopX was founded in 2015 in Bengaluru, India, as a fintech platform focused on retail rewards. A mobile application is utilized by users to scan UPI QR codes at participating local stores, enabling transactions and earning of cashback, discounts, and rewards. Connections between consumers and local businesses are facilitated through this system, which supports everyday purchases while rewarding user patronage in the Indian market.
What products or services does ShopX offer?
ShopX offers ShopX App.
How many acquisitions has ShopX made?
ShopX has made 1 acquisition, including GabbarDeals.
Who are ShopX's investors?
ShopX has 5 investors. Key investors include Rajesh Ranavat, Sandhya Ranavat, Kewal Krishna Kohria, Fung Group, and Nandan Nilekani.
What is ShopX's valuation?
The valuation of ShopX is $102.47M as of May 2019.
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