Total amount raised
$23.6 Millions
Latest funding date
4/1/2024
Location
ApnaKlub has successfully raised $4,269,863 in a Series A funding round, attracting investment from notable backers like Alteria Capital and Flourish Ventures. The platform is revolutionizing the FMCG procurement market by connecting buyers and brands through a single, digitized interface.
Keep reading to explore the intricacies of ApnaKlub's fundraising journey and the investors backing this innovative platform.
What Is ApnaKlub?
Founded in 2020, ApnaKlub is based in Bengaluru, Karnataka, India. The company was established by Manish Kumar and Shruti Shruti.
ApnaKlub digitizes and organizes the FMCG procurement market, connecting buyers and brands through a single platform. Their services include a mobile app for browsing and ordering products, wholesale procurement, delivery services, and GST billing.
With a workforce of 501-1000 employees, ApnaKlub continues to grow and innovate in the e-commerce and wholesale sectors.
How Much Funding Has ApnaKlub Raised?
- Seed Round
- Amount Raised: ₹260.3M
- Date: August 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the platform and begin scaling operations.
- Seed Round
- Amount Raised: Not disclosed
- Date: June 2021
- Lead Investors: Blume Ventures, Whiteboard Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Non-Equity Assistance
- Amount Raised: Not disclosed
- Date: January 2022
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To leverage Google's resources for technological advancements.
- Series A
- Amount Raised: ₹760.7M
- Date: May 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Series A
- Amount Raised: $6M
- Date: January 2023
- Lead Investors: TrueScale Capital, ICMG Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the digital platform and expand services to tier-2 and tier-3 cities.
- Series A
- Amount Raised: $4.3M
- Date: April 2024
- Lead Investors: Alteria Capital, Flourish Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve market penetration.
Total Amount Raised: $20.3M
Current Valuation: Not publicly disclosed
Key Investors
- Alteria Capital
- Details: Alteria Capital is a venture capital firm that invests in early and growth-stage companies. They provide venture debt and equity funding to startups in India.
- Investment Focus Areas: Technology, consumer brands, healthcare.
- Notable Investments: Dunzo, Lendingkart, ZestMoney.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations advance financial health and prosperity. They focus on companies that create economic opportunity and improve financial health.
- Investment Focus Areas: Financial services, digital health, future of work.
- Notable Investments: Chime, Aspiration, Grab.
- Tiger Global Management
- Details: Tiger Global Management is an investment firm that deploys capital globally in both public and private markets. They are known for their significant investments in technology and internet companies.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, LinkedIn, Spotify.
- TrueScale Capital
- Details: TrueScale Capital is a venture capital firm that partners with experienced founders demonstrating meaningful revenue and growth in large target markets. They focus on capital-efficient growth.
- Investment Focus Areas: Technology, consumer services, enterprise solutions.
- Notable Investments: Not publicly disclosed.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture fund that backs startups with disruptive ideas. They provide seed and pre-series A funding to Indian startups.
- Investment Focus Areas: Technology, healthcare, fintech.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
What's Next for ApnaKlub?
ApnaKlub stands at the cusp of a significant opportunity, aiming to tap into the $100 billion consumption market in India. By enhancing its digital platform and expanding its services to tier-2 and tier-3 cities, the company is poised to address 40% of this market. This expansion could potentially attract further investment, as the company continues to demonstrate strong unit economics and reliable service delivery.
Future fundraising seems likely, given the recent successful rounds and the growing interest from investors. However, ApnaKlub will need to navigate challenges such as increasing competition from other B2B platforms and maintaining its unit economics while scaling. Ensuring continuous support for Kirana store owners and wholesalers will be crucial for sustained growth.
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