B2B e-commerce platform ShopKirana has raised $10 million in series B funding round from Info Edge, Incubate Fund, Akatsuki AET Fund, NPTK Emerging Asia Fund, and Better Capital.
With the infusion of new proceeds, the Indore- based company is looking to bolster its operations in major tier-II cities (small cities) which holds 30% of the Indian population.
The round came after eight of its Series A closure back in December last year. The investors mentioned above also led $2 million worth funding round then.
ShopKirana connects retailers and brands directly through a mobile app. It helps retailers with generating better sales and keeping less inventory by buying in real-time, and by keeping track of stock on their mobile phone.
Besides helping in procurement, the platform provides services such as logistics, banking and loan facilities.
According to its website, ShopKirana has a presence across 30 cities and empowers about 100,000 retailers. It also claims to impact about 50 million customers via a network of retailers in 6 states.
The company also counts Atul Jain, former senior vice president of Samsung global headquarters and food-tech startup Hola Chef’s founder Anil Gelra as its early investors.
Recently, the company also had launched its labels in staples. ShopKirana competes with a slew of companies Jumbotail, Gramfactory and Udaan.
While Udaan, ShopX, Jumbotail, StoreKing, and Snapbizz are leading in this segment, industrialist Mukesh Ambani is also planning to bring a hybrid online-offline market with the help of Reliance Retail and Jio.
Business Standard first reported the development.
