B2B e-commerce startup Shopkirana raises $10M to expand to Tier 2 cities
ShopKirana, the Indore-based retail start-up, has raised $10 million in Series B round of funding. This round has seen participation from existing investors including Info Edge, Incubate Fund, Akatsuki AET Fund, NPTK Emerging Asia Fund and Better Capital.
The fresh capital will be used by the company to expand in tier 2 cities.
Sumit Ghorawat, Co-Founder, ShopKirana, said, “We are building the biggest and quickest go-to-market channel for FMCG brands to reach to rising middle-class Indian consumers via kirana stores. ShopKirana platform has the ability to place an international brand in local kirana stores and has the power to take a local brand to India scale.”
Founded by Tanutejas Saraswat, Sumit Ghorawat, and Deepak Dhanotiya in 2015, ShopKirana is a B2B e-commerce startup. The firm uses technology and supply chain to directly connect retailers with brands.
Currently, the Indore-based start-up is present in 6 states, 30 cities with 100,000 stores.
Kitty Agarwal, Head- corporate development/VC at Info Edge, said, “ShopKirana empowers small retailers by servicing them better, faster, cheaper, and enabling them to compete against organized retail and e-commerce. The supply chain efficiencies they have brought about using technology and data analytics is industry-leading.”