Total amount raised
$9.1 Million
Latest funding date
07/01/2022
Location
Lal10 has successfully navigated through 7 funding rounds, attracting the interest of 29 investors. The latest funding round, a Seed round, saw participation from notable investors such as Beyond Capital and Yuj Ventures.
Keep reading to explore the intricacies of Lal10's fundraising journey and the investors backing this innovative platform.
What Is Lal10?
Lal10 is a private company based in Noida, Uttar Pradesh, India. It operates in various industries, including Consumer Goods, E-Commerce, Lifestyle, Shopping, and Wholesale. The company has between 51-100 employees.
Founded to enable creative manufacturing MSMEs to digitize, manage, and sell their inventories for cross-border wholesale, Lal10 has successfully raised funding through 7 rounds, attracting 29 investors.
How Much Funding Has Lal10 Raised?
- Seed Round
- Amount Raised: USD 400,000
- Date: July 2018
- Lead Investors: TT Jagannathan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial operations and technology platform for Lal10, enabling it to digitize inventories for global wholesale and source raw materials directly from factories.
- Grant
- Amount Raised: Not disclosed
- Date: March 2019
- Lead Investors: HDFC Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to digitize the craft industry in India and prepare it for global wholesale.
- Convertible Note
- Amount Raised: USD 80,000
- Date: August 2019
- Lead Investors: IIMA Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology platform and expand market presence.
- Seed Round
- Amount Raised: USD 1,100,000
- Date: March 2020
- Lead Investors: Sorenson Impact
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance tech-based supply chain solutions and technology innovations for MSMEs.
- Seed Round
- Amount Raised: USD 2,000,000
- Date: February 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand aggressively in the global market, particularly in the US, Japan, and the Middle East.
- Debt Financing
- Amount Raised: USD 1,500,000
- Date: July 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance tech-based supply chain solutions and technology innovations for MSMEs.
- Seed Round
- Amount Raised: USD 4,000,000
- Date: July 2022
- Lead Investors: Beyond Capital, Yuj Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand aggressively in the global market, particularly in the US, Japan, and the Middle East.
Total Amount Raised: USD 9,080,000. Current Valuation: Not publicly disclosed.
Key Investors
- Beyond Capital Ventures
- Details: Beyond Capital Ventures is a venture capital firm focused on impact investments. They co-led the pre-Series A funding round for Lal10.
- Investment Focus Areas: Impact investments, technology, MSMEs
- Notable Investments: Lal10
- Yuj Ventures (Xander Group)
- Details: Yuj Ventures is an early-stage investment platform founded by Sid Yog. They led the pre-Series A funding round for Lal10.
- Investment Focus Areas: Early-stage investments, technology, supply chain innovations
- Notable Investments: Various early-stage technology and supply chain companies
- Sorenson Impact
- Details: Sorenson Impact is a venture capital firm that focuses on investments with social and economic impact. They participated in Lal10's seed funding round in March 2020.
- Investment Focus Areas: Impact investments, technology, MSMEs
- Notable Investments: Lal10
- IIMA Ventures
- Details: IIMA Ventures is a venture capital firm associated with the Indian Institute of Management Ahmedabad. They participated in Lal10's convertible note funding round in August 2019.
- Investment Focus Areas: Technology, startups, MSMEs
- Notable Investments: Lal10
- HDFC Bank
- Details: HDFC Bank is one of India's leading private sector banks. They provided a grant to Lal10 in March 2019.
- Investment Focus Areas: Banking, financial services, MSMEs
- Notable Investments: Lal10
What's Next for Lal10?
As Lal10 sets its sights on the future, the opportunities are vast. The company plans to expand its presence in the US, Japan, and the Middle East, leveraging its tech-based supply chain solutions to tap into the growing global demand for artisanal and handmade products. With a goal to reach a $100 million run rate in the next 12 months, Lal10 is poised to disrupt the highly disorganized B2B rural-sourcing market.
Future fundraising seems inevitable as Lal10 continues its aggressive expansion. The company’s ambitious plans suggest that additional funding rounds will be necessary to support technological advancements and market penetration. However, challenges such as navigating international regulations and managing a geographically dispersed supply chain could pose significant hurdles. Despite these challenges, Lal10's focus on digitization and technology innovation positions it well for sustained growth and success.
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