A start-up which helps convenience stores and pharmacies introduce an online sales channel has just completed another round of seed funding to support future growth. US-based Lula3 helps its customers onboard their inventory and connect with third-party delivery platforms such as DoorDash and Uber. The solution’s technology also handles the account management, customer service and marketing.
Co-founder Adit Gupta was inspired to start the business after his parents’ convenience store struggled during the pandemic. “People wouldn’t come into the store, but I couldn’t order from their store, so we got them on a delivery app or thought about making one for them. It was a harrowing experience to get 3,000 or 4,000 items online,” Gupta said4.
Unfortunately, the business could not be saved, but Gupta had identified a gap in the market. “We saw an opportunity with the over 150,000 convenience stores, which are really small fulfillment centers run by incredible entrepreneurs, but who don’t have technology to enable them to do delivery.”
Launching in late 2020, Lula is growing its store count by over 30% month-over-month, with plans to launch in Europe and Mexico in the near future. The company charges a monthly subscription for its platform “which most stores break-even on in their first couple days of the month.”