Swiftly-growing company Peeko, offering expedited delivery of infant necessities, bags a $3.2 million investment

Peeko, a quick commerce platform based in Bengaluru, has announced that it has raised $3.2 million in a seed funding round. The round was led by Stellaris Venture Partners and saw participation from several prominent investors, including Nitin Gupta, founder and chief executive of Uni, Maninder Gulati, former chief strategy officer at Oyo, Abhishek Goyal from Tracxn, Kunal Bahl and Rohit Bansal from Titan Capital, and Arjun Vaidya from V3 Ventures.

Founded earlier this year by Chetan Sharma, Vivek Khetan, and Abhijit Gairola, Peeko operates in 10 Bengaluru pin codes with a 4,000-square-foot dark store. The fresh capital will be used for enhancing the product experience, expanding supply, and deepening its presence in Bengaluru by adding multiple dark stores over the next 12 to 18 months.

Peeko is focused on delivering curated babycare essentials in under 60 minutes, promising to replicate offline shopping confidence in a digital format. The startup is developing features such as "try and buy" and instant return options to make the shopping experience as seamless as possible for parents.

Mayank Jain, principal at Stellaris Venture Partners, commented on the investment, stating that the baby and kids' market is large, fragmented, and largely unbranded with attractive gross margins. He further added that quick commerce presents an opportunity for Peeko to combine offline reliability with online convenience for time-constrained parents.

Peeko is also leveraging AI for personalized product recommendations, ensuring that parents receive products tailored to their needs. With the launch of its mobile app, scheduled for September, Peeko plans to begin pilots in other metros based on demand over the next 12 to 18 months.

The fresh capital will also be used to hire talent to support the company's growth and expansion plans. With the investment, Peeko is well-positioned to transform the babycare essentials delivery market, making shopping for parents more convenient and personalized than ever before.

At this time, there are no publicly available names of individuals who will act as advisors or investors for Peeko in the next 12 to 18 months based on the provided sources. However, with the calibre of investors already onboard, it is clear that Peeko is poised for success in the quickly evolving e-commerce landscape.