Shop 101 in talks for acquisition with Amazon & Reliance

Social business startup Shop101 is in beginning stage talks with Reliance and Amazon for an expected securing, said three individuals with direct information on the turn of events. The discussions have surfaced when the six-year-old firm is thinking that it’s intense to raise external capital.

“Shop101 has been in talks with Reliance and Amazon to examine procurement opportunities for as long as couple of months. Given the ascent in size of fragment pioneer Meesho, Shop101 has been battling to rope in new financial investors,” said one of the sources aware of the details mentioning obscurity as the discussions are private.

Shop101 had last raised ₹17.2 crore or $2.5 million in July 2020 from existing financial backers Kalaari Capital, VY Capital, Unilever and Stellaris Venture Partners.

As per sources, the organization may likewise be in chats with different suitors. Certainly, every one of these discussions are starter and may not emerge into a deal.

Queries sent to Shop101 and its backers Stellaris and Kalaari on Saturday didn’t get a response.