the company’s competitive advantage lies in the ability to provide value-added services platform users
recently, responsible for the operation of FMCG B2B platform ShopKirana India Kirana E Trading Pvt. startup Shop Ltd announced the acquisition of a pre-A round of financing, lead investor Incubate Fund is well-known venture capital institutions in Japan focus on seed stage investment. In addition, angel investment institutions from Mumbai Lead Angels Group and a number of fast consumer company executives also participated in the round of financing. Although Shop Kirana did not disclose the specific amount of financing, but according to sources, the scale of financing is expected to be approximately 2-3 million rupees in India.
up to now, Japan’s Incubate Fund has invested more than and 200 start-ups in Southeast Asia and Japan, and this is their first investment in the India market. Incubate Fund fund manager Nao Murakami said:
in the India department store retail market, the vast majority of business is to support small businesses such as Kirana. Although the size of the entire market is large, but it has shown a fragmented state, and very low operating efficiency. Through the use of technology to support small retailers, we believe that ShopKirana can bring greater efficiency and professional experience to the local market.
according to ShopKirana co-founder Sumit Ghorawat revealed that they plan to use this latest investment to increase investment in product and technology research and development.
it is reported that the company had raised a sum of money at the beginning of this year, the specific amount is also not disclosed, investors including former senior vice president of Samsung’s global headquarters Atul Jain, food science and technology start-up company Hola Chef founder Anil Gelra, mondelez candy group senior vice president Jaikumar Nair, as well as a number of fast consumer goods industry veteran.
ShopKirana was founded in 2015, headquartered in India, Indore City, the three co founders are Ghorawat, Tanutejas, Saraswat and Deepak Dhanotiya. As a App application based on the B2B platform, ShopKirana can integrate thousands of retailers business needs, and then pass these demand information to the brand. This has the advantage that the retailer can gain more competitive goods, but also has a single supply channels. The other party