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Gwalior-based B2B marketplace catering to cart-pishers (thela-walas) MyMandi recently raised Rs 10 crore in funding led by Real Time Angel Fund (RTAF), a SEBI-registered angel fund that specializes in early-stage investments in innovative startups.
The startup said that this strategic investment marks a significant milestone in its growth and development as it seeks to revolutionize the way B2B marketplaces operate in India.
What is the purpose of the fundraising?
With this round of funding, MyMandi plans to expand its offerings, enhance its technological infrastructure, and increase its market reach. The startup claims to have over 3,000 cart-pullers / small retailers associated with them and is aiming to onboard 5,000 by the end of this financial year.
"We are honoured to have Real Time Angel Fund as the lead investor in our current funding round. Their extensive experience in the agriculture technology sector will be invaluable to our team as we continue to push boundaries and make a meaningful impact on the Indian supply chain and distribution network in tier 2-4 cities," said Mahanaaryaman Scindia, Co-Founder of MyMandi.
What does MyMandi do?
Founded in 2022 by Mahanaryaman Scindia and Suryansh Rana, MyMandi is a B2B supply chain network for retailers in tier 2/4 cities providing a one-stop shop and other integrated business solutions.
By focusing on fresh produce and staples, The startup aims to bridge the gap between local suppliers and retailers through warehousing, logistics and financial services. It aims to redesign the hyperlocal supply chain by empowering local markets.
"MyMandi's vision to empower Cart Pushers/Thella Wallas and smaller retailers through technology and market access is truly inspiring. As a socially responsible investor, Real-Time Angel Fund is excited to support them in their journey to bring about positive change. We strongly believe in the potential of MyMandi's platform and are committed to working closely with their team to help them achieve their goal," said Pranay Mathur, CEO of Real-Time Angel Fund.
He further said the investment will enable MyMandi to enhance its product offerings, strengthen its team, and deepen its impact on Indian agriculture.
What does the Real-Time Angel Fund do?
Real-Time Angel Fund is a leading SEBI-registered angel fund based in India, specializing in early-stage investments in innovative startups. The fund is sector agnostic, focusing on sectors such as health tech, fintech, green energy, artificial intelligence, and consumer technology.
It provides startups with capital, mentorship, and operational support to accelerate their growth and create significant value through various global partnerships.
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