ShopKirana, a B to B ecommerce start-up recently raised $2 million from investors such as Info Edge, AET Fund, Better Capital AngelList syndicate, Akatsuki and Incubate Fund. This was reported by Economic Times.
ShopKirana will use these funds to expand its business. The company aims to be present in 10 cities next year, with the plan being to target one lakh retailers.
The platform forms a bridge between individual retailers and suppliers. This eliminates middlemen, ensuring better gains for all parties involved.
The company was established in the year 2015 by Deepak Dhanotiya, Sumit Ghorawat, and Tanutejas Saraswat. ShopKirana, in addition to offering a single channel for sourcing needs of retailers, also offers services such as banking, logistics, loans, etc.
The company had raised $20 million in January 2016 and $100 million in August 2017.
Sources: Economic Times, VCC Circle.