Techjockey News

TVS Electronics Ltd, Chennai provides seed funding of $60K to Surat-based RoyalPOS, which is a B2B cloud-based SaaS startup.

RoyalPOS is assisting small & medium-sized restaurants and shops to digitize business processes like billing, invoicing, payments, inventory, and reporting from a single outlet or numerous outlets. In 15+ nations, RoyalPOS has digitalized more than 1300 enterprises.

Mayuri Ruparel (Co-founder) said in a statement that they are already receiving good market responses since the start. More than 50k App downloads have been recorded and they have acquired more than 16000 users in a short period. She further stated, “We have been bootstrapped so far and now we are aiming to scale the business in multiple folds.”

Utpal Ruparel (Co-founder) also stated, “We are excited to have TVS Electronics Limited as our strategic investor. They are not only coming with funds but also with further support such as team building, Marketing, Sales, and other expertise. We will be investing in Marketing, Team building, and technology to scale our startup to the next level. TVS-E will also be selling the software with their touch POS.”

With a significant market share in India, TVS Electronics Limited, based in Chennai, provides products and solutions for the retail sector, as well as computing devices, such as POS systems, and items like scanners, barcode printers, surveillance cameras, receipt printers, and recorders. More than 4k partners/resellers and other service providers make up TVS Electronics’ extensive service network and distribution across India. Following the financing, RoyalPOS has begun to grow its sales and support teams, it has immediately seen a threefold increase in revenue.