Business brief

Gully Network Retail, a tech-enabled chain of small-format kirana stores, on Tuesday said it has raised Rs 5 crore in seed funding from Orios Venture Partners. "We take care of sales, margins, finance, inventory, merchandise and additional income for the retailers in our network. We ensure an increase in net income of retailers with no day to day hassles while enabling them through technology to behave like modern format stores end to end," Gully Network Retail founder Ajay Nain said.

Gully Network currently operates in Bengaluru and has 25 stores in its chain and aims to have one store in every one kilometre radius across the country, it added. Set up in August this year by Ajay Nain and Prateek Chaturvedi, Gully Network brings a tech-enabled platform that transforms a small-format business into an omni-channel modern store making the store's experience and business model more competitive.