E-commerce platform Combonation has raised pre-seed funding worth two million dollar in its latest funding round from an as yet undisclosed group of private investors. The company intends to utilise the funds mostly for their expansion, including technology and recruitment. Additionally, the firm is also looking to roll out over 50 offline retail stores across Delhi NCR in the next six months. The company further added that it has established a plan to expand to more than 100 locations in Northern India.
Saurabh Nanda, a serial entrepreneur and promoter of a well-known brand, Coloressence, which has a presence both nationally and internationally, supports the e-commerce platform that provides the greatest combination of deals on several brands at unbelievable discounts. For Nanda, pricing parity is the number one goal for any CEO or management across online and offline platforms, which unfortunately is impossible with different pulls and pressures of online and offline, leading to either disgruntled trade members and downward pricing pressures or the need for a separate range all together for offline and online channels, leading to inventory pressures. “Combonation alleviates the trade imbalance and promotes peace across online and offline trade platforms with deep discounts without the disclosure of individual prices of a single SKU or brand, thereby keeping both the consumer and trade happy with the air of ambiguity and exciting offers,” Nanda, founder and MD, Combonation, added.
Pooja Sodhi, the company’s co-founder, has led branding and marketing projects for tech titans such as Apple and Samsung. According to her, the primary goal of Combonation’s inception was to prevent pricing discrepancies from disrupting business for the firms that had signed on. Because of the large discounts offered in the online format, combinations of products make it impossible to compare prices across different items.