Ping, a conversational commerce platform, has increased $3.5 million in a seed funding round led by Elevation Capital.
The Bengaluru-based firm would use the capital for product innovation and development, strategic hiring, and expansion across all metro cities of India.
Founded in 2020 by Vartika Bansal, Ping enables commerce and communication for agricultural producers, local manufacturers and home-based business owners. Presently operational in
Bengaluru, Mumbai, Guruhram and Hyderabad, the firm has more than 400 residential communities on its platform and plans to add over 3,000 more.
The makers include more than 500 businesses and individuals across sectors.
“The maker economy in India is booming, and with the increase in e-commerce penetration, a strong movement to provide, preserve and celebrate makers and their identities is emerging,” Bansal stated. 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.”
Ping is a remote-first organisation and has its team spreads out through India. Bansal has experience in launching and leading business verticals from her stints at Uber Eats and Oyo Hotels & Homes.
"We are seeing a very strong emergence of makers of unique products across a number of categories such as fruits and vegetables, food and beverage, beauty, etc,” stated Mukul Arora, partner at Elevation Capital. “Urban consumers are also increasingly opting for such unique products over mass-produced alternatives."