ApnaKlub, an FMCG wholesale platform, has raised $10 million in its Series A funding round from Tiger Global, it announced on Thursday.
The latest infusion follows the startup’s $4-million round in August 2021 that had seen the participation of Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures.
The fresh proceeds will be used to deepen infrastructure in key states, expand the platform from 5,000 to 20,000 partners and build out the credit product, the startup said in a statement.
“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,” said John Curtius, partner at Tiger Global.
ApnaKlub was incubated with Whiteboard Capital in 2020 by Shruti and Manish. The startup focuses on social sellers and kirana-store owners from tier 2 and tier 3 cities. With ApnaKlub, a user can digitise their wholesale business as a rural wholesaler or expand their business as a shopkeeper.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from May 10-12, 2022.
