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Peel-Works to increase warehousing space footprint by FY21

Wednesday, 22 Jul 2020

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Peel-Works is looking to increase its warehousing footprint rapidly with over six times growth by the end of FY21.

The proposed expansion of the technology start-up, focused on supply chain management for brick-and-mortar retailers, will push the company’s warehousing space to over half a million sq ft from the current 80,000 sq ft and 16,000 sq ft in March 2021.

Peel-Works is Mumbai-based ‘software as a service’ (SaaS) platform. It operates a retail management platform Taikee that helps corner stores with anytime ordering ability on an assortment of products using multiple payment methods.

So far the company has raised more than Rs 100 crore of funds from various investors including HDFC Bank, Unilever, Indian Angel Network, Equanimity and a few more.

It now has over 18,550 stores registered on its retail management platform Taikee across 10 cities as against 12,150 stores in eight cities as of March 2020. The company is planning to expand its reach to over 15 cities by the end of March 2021.

The average size of the company’s warehouses in non-metro cities is 5,000 to 6,000 sq ft, whereas in metros like Mumbai, Delhi and Chennai it is around 10,000 sq ft.

In metros, the company has multiple warehouses. In Delhi-National Capital Region (NCR), it has six warehouses and is looking to increase the same to 10 facilities soon. Unlike large warehouses, these facilities are within city limits to ensure quick deliveries.