ApnaKlub ropes in new investors to increase total Series-A funding to $16 million

ApnaKlub, a B2B wholesale platform for fast-moving consumer goods, has raised an additional funding of $6 million in its Series-A round. It had earlier raised $10 million in the round. The latest round brings the Series-A total to $16 million.

The latest funding has been secured from TrueScale Capital and ICMG Partners, with participation from Flourish Ventures, Sequoia India's Surge, Blume Ventures, and Whiteboard Capital. The earlier $10-million cheque was raised from Tiger Global in late 2022. ApnaKlub has raised $20 million till date.

The company said that funds will be used to enhance a digital platform for kirana store owners and wholesalers in Tier-2 and Tier-3 cities to purchase goods and services. This is a $100 billion consumption market and ApnaKlub's approach addresses the pain points of 40 percent of this market.

"We are thrilled to have the support of such reputable investors as TrueScale Capital and ICMG Partners, as well as the continued strong support of our existing investors," said ApnaKlub COO Manish. "This funding will allow us to continue growing our platform and offering more value to our customers."

ApnaKlub was founded in 2020 by Shruti and Manish, two entrepreneurs with strong backgrounds in product, finance, strategy, and FMCG distribution. Shruti, who holds a gold medal from IIT Delhi and an MBA from Harvard Business School, brings expertise from her time in consulting and investing to the company. Manish has extensive experience in retail and FMCG, having held leadership roles at Walmart India, Metro Cash & Carry, and Future Group.

B2B FMCG wholesale platform Apnaklub raises $3.5 million in seed round B2B FMCG wholesale platform Apnaklub raises $3.5 million in seed round

ApnaKlub said it has processed over two lakh orders, onboarded and transacted with more than 33,000 partners, all while keeping burn to a minimal level.

"We are delighted to help ApnaKlub achieve its expansion objectives. We seek to partner with experienced founders who are demonstrating meaningful revenue and growth in large target markets in a capital-efficient manner," Sameer Nath, Managing Partner at TrueScale Capital, said.

The company also announced the elevation of Gourav Das, CPTO and Ashutosh Kumar, Growth and New Initiatives to the position of founding team members. "We are confident in our extraordinary team's ability to continue driving growth in the future," said ApnaKlub CEO Shruti. "It has been a successful and exciting year for ApnaKlub, and we are grateful for the support of our employees, partner brands, and customers."

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