/indianstartupnews/media/agency_attachments/s1FnhAYONODoxNkoC8xA.png)
Follow Us/indianstartupnews/media/post_banners/tkqjwkAAN6Thmz82OFOK.jpg)
Apnaklub Co-founders Shruti and Manish Kumar
Bengaluru-based business-to-business (B2B) wholesale platform Apnaklub has raised $10 million (approx. Rs 77 crore) in a Series A round of funding led by US-based Tiger Global. Previously, the startup had raised $3.5 million in a Seed round in August 2021 from Sequoia's Surge.
It looks like US-based Tiger Global, which mainly backs growth and late-stage startups, has now started investing in seed-stage startups. Earlier this week, SaaS startup Shopflo received seed funding from Tiger Global.
Founded in 2020 by Manish Kumar and Shruti, ApnaKlub connects India’s retailers, such as Kirana and general stores in semi-urban and rural areas, to a wide range of consumer goods and brands via its network of digitally connected wholesale partners.
According to the company's statement, the startup will use the raised funding to deepen infrastructure in key states, expand the platform from 5000 to 20,000 partners and build a credit product.
Additionally, It will also look forward to expanding its presence in the North Indian market and hiring talent for better growth.
“ApnaKlub helps retailers and traders in tier II and III cities of India to leverage their collective demand and geographic presence, into a flourishing retail business, which provides greater consumer choice and delight, by providing access to a wider range of products at comparable margins, as well as better credit and logistics terms than status quo," said Shruti, Co-founder & CEO of ApnaKlub.
"ApnaKlub brings the convenience of digital wholesale supply to tier II & tier III smartphone users. It also creates opportunities for regional brands to list their products and earn better by reaching a wider audience across India," said Manish Kumar.
Speaking on the investment, John Curtius, Partner at Tiger Global, said, "Indian CPG retail is a $100 billion opportunity and Kirana stores own the majority of current distribution channels. ApnaKlub is arming retailers and brands with the digital supply chain and credit tools to win across online and offline channels. Shruti and Manish have built a rapidly growing platform based on deep customer insights."
Also Read:
Follow IndianStartupNews on Facebook, Instagram, Twitter for the latest updates from the startup ecosystem.