[Funding alert] On-demand supply chain startup Kirana247 raises $1M in pre-Series A round
The Delhi-based on-demand supply chain startup Kirana247 announced that it has raised $1 million in its run-up to pre-Series A round, which is expected later this month, as it expands its physical infrastructure, brand partnerships, customer network, and invests in enhancing its supply chain technology and talent pool. The round saw participation from a large financial institution and serial entrepreneurs.
According to the company statement, Kirana247 will use the capital to scale its fulfilment network and establish 40 micro warehouses that will serve 100,000+ active kirana stores across Delhi-NCR, Haryana, Uttar Pradesh, Punjab, and Rajasthan.
Founded in 2018 Tarun Jiwarajka and Pankhuri Jiwarajka, the startup brings together all the stakeholders of the retail supply chain, including manufacturers, traders, wholesalers, retailer shop owners, and brands onto a single platform.
Speaking on the recent development, Pankhuri Jiwarajka, Co-founder and CMO of Kirana247, said,
“Standalone Kirana stores form the backbone of India’s $600 billion FMCG market. Despite their criticality in the retail ecosystem, these stores face tremendous competition from digital and organised retailers. We at Kirana247 are looking at creating a seamless interface that reduces inefficiencies and helps the store owner maximise the earning potential per square foot.”
Kirana247 helps reduce infrastructure limitations and improves the efficiency of the supply chain using deep-tech, as well as AI and ML-based solutions. Kirana247 expects to cross Rs 400 crore annualised GMV in the near term.
Speaking on the fundraise, Krishna Bhupal of GVK group said, “The ever-increasing aspirations of the Indian consumer has pushed every retailer to increase its service levels. Kirana247 is on a mission to enhance the revenue per square foot for the Kirana store, and I believe the company is well-positioned to disrupt the FMCG ecosystem. Its plug-and-play solution will provide all stakeholders of the B2B supply chain a seamless and effortless experience, thereby allowing them to focus on the end-consumer.”
The startup claims to have onboarded 5,000+ active retail partners on its platform. On the supplier side, Kirana247 has partnered with major manufacturers such as Hindustan Unilever, Marico, Reckitt Benckiser, Godrej, Dabur, and Pepsi to name a few.