Press Release

Lead Angels Network Leads Pre-Series A Investment in Indore-Based ShopKirana

0

Lead Angels Network bets on local Indian innovation to inject technology in the Kirana business. ShopKirana has raised an undisclosed amount in pre-series A from Lead Angels, Incubate fund Japan and senior executives from top FMCG Companies.

ShopKirana is a B2B technology and supply chain focused company that aims to empower retailers to be competitive by providing technology, operational expertise and scale advantage. Idea is to partner with thousands of retailers (by becoming part of their supply chain) and making it the biggest and quickest go-to-market channel for products and services.

$300Bn Indian retail market is still largely (~92%) unorganized. ~9M small and fragmented retailers lack technology and are plagued with supply chain inefficiencies. ShopKirana is using M-commerce by integrating the existing unorganised supply chain cobweb into systematic hub and spoke franchise system using technology. It plans to tap the Kirana retail segment, 92% of which is unorganised. They are helping the retailers in keeping up with the changing retail space by providing them a one-stop solution for sourcing. They are using a digital platform for 24/7 ordering, 24hrs delivery and consolidated payments, with the help of which, they are able to quickly fulfill orders. Leveraging on their strong relationships with the retailers, they are also launching brands on their platform, which need a digital platform to launch and need data analytics to catch up the trends in the market. Through integrating retailers and brands on a platform, ShopKirana hopes to create India’s largest go-to-market channel via retailers.

“ShopKirana is working on sustainable value creation by simultaneously increasing efficiency in the supply chain and aggregating purchasing power of small businesses. I believe that the team has collectively exhaustive skill sets with a very firm focus on areas where startups seem to fail: execution and consistency in service quality.” says Pragnesh Podar, lead investor from Lead Angels group.

This model is retailer centric and will remain that way. ShopKirana will connect with 1+ lakh retailers in next 1-2 year, helping them to improve on sourcing and inventory turn over. It will help regional/domestic brands to go national while helping international brands reach smaller markets. It will also help established FMCG companies to get quicker reach to retailer and visibility of accurate and competitive POS data.

“We have already tested services in 2 cities with 5000+ Kirana stores, delivered 200+ orders /day and achieved sales of over Rs. 10+ lakh / day. We will reach 10,000+ customers and will be delivering 1000+ orders/day soon,” said ShopKirana co-founder Deepak Dhanotiya.

Like this content? Sign up for our daily newsletter to get latest updates.

Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

Legal Tech Startup MyAdvo Raises Funding from LetsVenture

Previous article

Japenese Startup To Partner With Indian Spacetech Startup To Land on Moon

Next article

Comments

[fbcomments]

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.