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India Accelerator and Finvolve have invested ₹3.3 crore in Hippo Innovations, an e-commerce solutions provider, as part of its ongoing Pre-Series A round.
As part of its business plan, Hippo Innovations will allocate the acquired funds to augment its marketing efforts, automate workflows using AI, and strengthen enterprise offerings. Additionally, the funds will be used for strategic partnerships with industry bodies, logistics/payment providers, and service integrators, said the company.
Ashish Bhatia, co-founder of Finvolve, said, “Participating in the ongoing Pre-Series A round of Hippo Innovations showcases our optimism about the transformative potential of its solutions. We are confident about the impact the company will have on India’s soaring e-commerce ecosystem. Hence, we look forward to sharing commitments to drive the industry growth and make e-commerce opportunities accessible to all.”
Founded in 2015, Hippo Innovations is known for Hippo Solutions - StoreHippo and Mystore, which help e-commerce brands overcome the limitations imposed by traditional software. This supposedly provides the brand with the utmost scalability, flexibility, agility, and reliability in establishing and operating their online business.
Hippo Innovations has a portfolio of over 13,000 registered sellers, including Amul, Hero, Aditya Birla Group, Godrej Appliances Croma, 5000+ FPOs, artisans, and SHGs.
IA and Finvolve endorse Hippo Innovations’ vision to democratize the market through the Open Network for Digital Commerce (ONDC). As India’s first open network ecosystem, the ONDC Network focuses on enterprise marketplaces, logistics aggregation, food aggregators, services marketplaces, and B2B marketplaces.
Kriti Aggarwal, Co-Founder & CMO of Hippo Innovations, said, “Our strategic partnership with Finvolve marks an exciting new chapter in delivering cutting-edge, user-friendly e-commerce solutions for businesses of all sizes. This collaboration will help us extend our vision of inclusive growth and be part of India’s success story through transformative digital solutions.”
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