Surat-based SaaS Startup RoyalPOS Raises USD 60K in Seed Funding Round Led by TVS Electronics
– Surat-based B2B SaaS Startup RoyalPOS Secures USD 60K Seed Funding from TVS Electronics Limited in Chennai.
Small and medium-sized neighborhood restaurants and retail stores can digitize their billing, inventory, payments, and reporting with the help of RoyalPOS. With its digital solutions, RoyalPOS has already transformed over 1300 businesses across 15 countries.
According to Mayuri Ruparel, Co-founder, the company has received a tremendous response since its inception, resulting in over 50,000 app downloads and 16,000 users in a short span of time. Previously bootstrapped, the company now aims to scale its business with the help of its latest seed funding round led by TVS Electronics Limited, Chennai.
Co-founder Utpal Ruparel expressed excitement about the new strategic investment from TVS Electronics, who not only bring financial support but also expertise in areas such as team building, marketing, and sales. The investment will be used to enhance marketing efforts, build a stronger team, and advance technology for further growth. Additionally, TVS-E will also sell RoyalPOS software through their touch POS systems.
With a robust presence in India, TVS Electronics offers a wide range of products and solutions for the retail sector, including POS systems and barcode printers, scanners, receipt printers, surveillance cameras and recorders. They have a widespread distribution network across the country, with over 4,000 partners and service providers.
Following the investment, RoyalPOS has already experienced a tripling of revenue in the following month and has expanded its sales and support team. Their software is affordably priced and can be used with a mobile device, touch POS, or laptop. Available on Android, iOS, and Windows, RoyalPOS has also integrated with popular platforms such as Swiggy, Zomato, Paytm, Bharatpe, PhonePe, and Pine Labs.