Total amount raised
$60.2 Millions
Latest funding date
01/01/2022
Location
Shopkirana has successfully raised funding over multiple rounds, with its latest being a Series C. The company focuses on B2B e-commerce and supply chain technology, empowering retailers through innovative solutions.
Keep reading to explore the intricacies of Shopkirana's fundraising journey and the investors backing this transformative platform.
What Is Shopkirana?
Shopkirana, founded in 2015, is a B2B commerce company based in Indore, Madhya Pradesh, India. The company focuses on technology and supply chain innovation to empower retailers.
Founded by Deepak Dhanotiya, Sumit Ghorawat, and Tanutejas Saraswat, Shopkirana connects retailers directly with brands, offering a platform for ordering, delivery, and payments. The company aims to improve margins, productivity, and sales for its customers.
With a workforce of 501-1000 employees, Shopkirana partners with millions of retailers, making it a significant player in the B2B e-commerce space.
How Much Funding Has Shopkirana Raised?
- Angel Round
- Amount Raised: $23.5K
- Date: May 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop the initial platform.
- Seed Round
- Amount Raised: $60K
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial operations.
- Angel Round
- Amount Raised: $191.3K
- Date: February 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2016
- Lead Investors: Lead Angels Network
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve service offerings.
- Series A
- Amount Raised: $2M
- Date: December 2018
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance supply chain capabilities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Gemba Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and market expansion.
- Series B
- Amount Raised: $10M
- Date: August 2019
- Lead Investors: Info Edge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance technology infrastructure.
- Venture Round
- Amount Raised: $2.3M
- Date: September 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve service offerings.
- Series B
- Amount Raised: $495K
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series C
- Amount Raised: $45.1M
- Date: January 2022
- Lead Investors: Info Edge, Oman India Joint Investment Fund, Sixth Sense Ventures
- Valuation at Round: $150M
- Motivation Behind the Round: To expand into Tier-II cities and invest in technology and human capital.
Total Amount Raised: $98.4M
Current Valuation: $150M
Key Investors
- Info Edge
- Details: Info Edge is a leading online classifieds company in India, known for its platforms like Naukri.com and 99acres.com. The company has a strong presence in the internet services sector.
- Investment Focus Areas: Internet services, real estate, education, matrimony
- Notable Investments: Zomato, PolicyBazaar, Naukri.com
- Oman India Joint Investment Fund
- Details: A private equity fund that invests in mid-market companies in India. It is a joint venture between the State General Reserve Fund of Oman and the State Bank of India.
- Investment Focus Areas: Consumer goods, healthcare, financial services
- Notable Investments: Solar Industries, Capital Small Finance Bank, Indus Teqsite
- Sixth Sense Ventures
- Details: An Indian consumer-focused venture fund. Sixth Sense Ventures typically invests in innovative and scalable businesses.
- Investment Focus Areas: Consumer products, technology, healthcare
- Notable Investments: Soothe Healthcare, LEAP India, Veeba Foods
- Gemba Capital
- Details: An early-stage venture capital firm. Gemba Capital focuses on technology and consumer internet sectors.
- Investment Focus Areas: Technology, consumer internet, fintech
- Notable Investments: Not publicly disclosed
- Lead Angels Network
- Details: A network of angel investors focused on early-stage investments. Lead Angels Network supports startups in various sectors.
- Investment Focus Areas: Technology, consumer products, education
- Notable Investments: Not publicly disclosed
What's Next for Shopkirana?
Shopkirana is poised to capitalize on a vast $500 billion market by expanding its B2B e-commerce platform to Tier-II cities across India. The company plans to enhance its mobile app functionalities and offer additional financial services, such as banking and loan facilities, to better serve its growing network of retailers and brands.
With a recent $38 million Series C funding round, Shopkirana is well-positioned for future fundraising opportunities. The interest from major investors like Oman India, Info Edge, and Sixth Sense Ventures suggests that further investment rounds could be on the horizon as the company scales its operations and technology infrastructure.
However, Shopkirana faces significant challenges, including intense competition from well-funded rivals and the complexities of rapid expansion. Maintaining operational efficiency and ensuring seamless integration of financial services will be crucial as the company navigates the evolving B2B e-commerce landscape.
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