THE WHAT? Henkel’s venture capital unit has participated in a funding round for Indian start-up m.Paani.
THE DETAILS Founded in 2014, m.Paani developed a single platform offering retailers the chance to provide an online shopping service to their customers.
“The Indian retail market with 60 million local shops provides huge potential for our businesses which can be unlocked by innovative digital go-to-market models”, said Dr. Rahmyn Kress, Global Head of HenkelX Ventures. “m.Paani has developed a powerful mobile platform that connects consumers and local retailers via loyalty programs and has already proven the capabilities of its business model. We are excited about this partnership through which we aim to gain valuable insights about the local retail market while evaluating the potential of the platform and technology for other global consumer markets.”
THE WHY? HenkelX Ventures’ move will help Henkel gain valuable insights about the retail markets and consumer behaviours in emerging markets as well as supporting the company’s strategic priority to accelerate digitalization.