Post Date : August 19, 2019
Madhya Pradesh based tech startup ShopKirana has raised $10 million in a Series B funding round from Info Edge, Incubate Fund, Akatsuki AET Fund, NPTK Emerging Asia Fund and Better Capital. ShopKirana focuses on innovation in the supply chain for retailers.
The funding is a follow-up of its Series A round of INR 14 crore, which was led by Info Edge, with participation from Akatsuki, Incubate Fund and Better Capital in 2018. Its first round of seed funding of INR 3 crore was done by Incubate India and other angels.
The startup intends to use the money primarily to expand operations across small cities in the country.
“We are building the biggest and the quickest go-to-market channel for FMCG brands to reach to rising middle-class Indian consumers via kirana stores,” said Sumit Ghorawat, co-founder, ShopKirana. “ShopKirana platform has the ability to place an international brand in local kirana stores and has the power to take a local brand to pan-India scale.”
The startup offers advanced technology to help small retailers compete with organised retail, helping them understand their customers well, smarten their supply chain and ensure higher levels of efficiency in their business.