BENGALURU: Former Flipkart senior vice-president Ranjith Boyanapalli founded Flash.co has secured $6.7 million in pre-Series A investment round, which was led by Blume Ventures and co-led by existing investor PeerCapital, with participation from other existing backers including White Venture Capital and Emphasis Ventures.
With this, the start-up’s total funding stood at $12.5 million. It had secured a $5.8 million seed round in 2022. Till now, the Flash.co email platform has processed over 8 million emails with users having already placed over 1 million orders spanning 1000 brands using their Flash.co email IDs, the start-up said.
It also plans international expansion by 2024. In India alone, there are 25 million power shoppers, who contribute to nearly 70% of the online shopping revenue and are estimated to further grow to 65 million by 2030, the start-up said.
Power shoppers face challenges around spam, order tracking and lack of rewards, and Flash.co solves by offering a shopping tracking, spam free inbox, spend insights, and personalised lifestyle rewards tailored to individual shopping behaviours, it said.
The start-up is backed by global venture capital firms such as Global Founders Capital, White Venture Capital, PeerCapital, Emphasis Ventures, Soma Capital, Zinal Growth as well as angel investors including Binny Bansal (Co-founder, Flipkart), Kunal Shah (Founder, CRED), Sujeet Kumar (Co-Founder, Udaan) and others.