Ping, the conversational community commerce app, has raised $3.5 million in seed funding led by Elevation Capital. With the latest funds, Ping plans to expand across all metropolitan cities in India, while strengthening its platform and focuses on Strategic Hiring.
Founded in July 2020 by Vartika, an alumna of Stanford Graduate School of Business and IIT Bombay, Ping facilitates residential communities for various commerce activities with farmers, local manufacturers, and various other small business owners through their conversational commerce platform. Ping yields a lot out of Vartika’s experience of launching various channels and heer leadership abilities earlier served to Uber Eats & OYO.
Ping eliminates the need for unorganized WhatsApp groups by Farmers, Manufacturers and other businesses to sell directly and group by residents to secure quality products in bulk.
Ping is currently operational in four metro cities — Bengaluru, Mumbai, Gurugram, and Hyderabad, and has more than 400 active residential communities on its platform and plans to add over 3,000 more. The makers include more than 500 businesses and individuals across segments, including baked goods, agricultural produce, pet supplies, home decor and more.
Commenting on the fundraise, Vartika Bansal, Founder, Ping said, “The maker economy in India is booming, and with the rising ecommerce penetration, a strong movement to provide, preserve, and celebrate makers and their identities is emerging.”
“At Ping, our vision is to augment this movement through an effective, conversational community platform that directly connects farmers, makers, and producers with local residential communities. We want to be at the forefront in catalysing the growth of local entrepreneurship by empowering these business owners to reach a larger pool of new and repeat customers.”
“On the other hand, for consumers, our goal is to provide a verified selection of authentic local businesses to purchase from whilst allowing greater transparency in transactions”.
Mukul Arora, Partner at Elevation Capital, said, “We are seeing a very strong emergence of makers of unique products across a number of categories such as fruits and vegetables, F&B, beauty, etc. Urban consumers are also increasingly opting for such unique products over mass-produced alternatives. Ping is making it really easy for consumers to discover and buy from these makers, while enabling makers’ to sell, build a brand and create and maintain a loyal customer base. We are really excited to partner with Vartika in this journey to unlock a new market.”