Capillary Technologies, an India-based startup that helps e-commerce businesses manage their marketing and customer engagement, has pulled in $20 million in fresh funding from existing investors Warburg Pincus and Sequoia.
The company said it plans to use the capital to develop its products and R&D, including a new focus on the fast-moving consumer goods (FMCG) space where it works with brands directly on marketing and e-commerce. Nearly two-thirds of the money will go towards developing artificial intelligence (AI) technology, it added.
Capillary Technologies offers a range of Saas-based services targeted at large retailers that include consumer behavior tracking, engagement, mobile commerce and loyalty programs. The startup said it has worked with over 25,000 stores, including 300 “marquee brands” such as KFC, Walmart and Samsung inside India and beyond.
The company has 11 offices across India, Southeast Asia, the Middle East, China and South Africa. With this new funding, it plans to open additional China-based offices in Guangzhou and Beijing. CEO and co-founder Aneesh Reddy confirmed in a statement that there are also plans to grow its presence in the Middle East and Southeast Asia, where the startup has offices in the UAE, and Malaysia and Indonesia, respectively.
This new funding takes Capillary Technologies to just over $100 million raised from investors to date. Other backers include InnoVen Capital, Norwest Venture Partners, and American Express Ventures.