Jaipur-based B2B wholesale e-commerce venture Wholesalebox has raised undisclosed amount from Rajasthan Venture Capital Fund (RVCF). Existing investors including Orios Venture Partners and Contrarian Drishti Partners also participated in the round.

The funds raised will be used by the startup to expand its operations to new markets across the country.

Earlier in November 2016, the startup had raised $2 million from a group of institutional investors and marquee angels -- Orios Venture Partners Contrarian Vriddhi Fund, and Manish Maheshwari, CEO of Network 18 Digital.

Founded in 2015 by Chandan Agarwal, Madhur Bhaiya, Rakesh Shekhawat and Rohit Dangayach, Wholesalebox is an e-commerce portal for traditional shopkeepers to buy directly from manufactures bypassing the wholesalers and traders. Through its platform, traditional brick-n-mortar shopkeepers can buy apparel, fashion jewellery and home furnishing products directly at factory prices, without any travel, hence lowering purchase rates by 25-30% while adding to convenience.

The company, which is currently operational in Gujarat and Rajasthan, aims to empower the retailers with technology to help them cut costs, save time, increase revenue and improve their customer experience, with the help of technology solutions using data analytics.

Managed by Rajasthan Asset Management Co. Pvt. Ltd , RCVF is Rajasthan's first VC fund that has been operational since 2002 and invests in seed, early, and mid-stage companies. Currently investing out of its third fund, it is focused on industries in healthcare, food processing, logistics, IT/ITES, and education sectors. One of its popular investment include travel website Yatra.com

“There is a huge opportunity in terms of business growth using technology in the highly unorganized and fragmented wholesale apparel market,”, said K Ganapathy Subramanian, chief executive of RVCF.

Last month, RCV has invested in the Jaipur-based Wooden Street, an online custom furniture store. Prior to this, RVCF had invested undisclosed amount in Direct Create Private Limited, an online and offline e-commerce platform, in January 2017.

[Top Image - YouStory.com]

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