Baby-focused quick commerce startup Peeko raises $7 million
Indian quick commerce startup Peeko, specializing in baby products, has secured $7 million in Series A funding. The capital will be used to expand its operations and enhance its product assortment.
Peeko, an Indian quick commerce startup focused on baby products, has announced a Series A funding round of $7 million (approximately ₹58 crore). The round was led by Chiratae Ventures, with participation from existing investor Stellaris Venture Partners and other angel investors.
The newly acquired capital will be primarily allocated to expanding Peeko's presence in Bengaluru, improving its product selection, and developing its technology stack. The company plans to hire for key positions to support its operational growth. Peeko currently employs around 60 people.
Founded last year, Peeko operates a vertical quick commerce model, promising delivery of babycare products within an hour. The startup manages its operations through dark stores, currently operating three in Bengaluru which cover about 55% of the city's postal codes. Peeko aims to add three more dark stores by the end of the year to achieve full city coverage. Its product portfolio encompasses over 100 brands, offering items ranging from apparel and toys to diapers and baby food.
Peeko differentiates itself with a "touch and feel" service. Customers can place orders via the app, and upon delivery, the rider waits while the customer inspects the items. Customers can then choose to keep desired products and return the rest, with immediate refunds processed at the doorstep. The company plans to expand beyond Bengaluru to other cities by early next year.
The funding comes as India's babycare market is projected for significant growth, with the broader quick commerce market also expanding rapidly. Peeko aims to position itself as a comprehensive parenting partner, exploring potential AI-driven tools to assist new parents in making informed purchasing decisions.