B2B wholesale startup ApnaKlub closes Series A round at $16M
The Bengaluru-based startup will use the funding to enhance a digital platform for kirana store owners and wholesalers in Tier-II and Tier-III cities to purchase goods and services.
B2B (business-to-business) wholesale firm has raised an additional $6 million in a Series A funding round from TrueScale Capital and ICMG Partners.
This is a follow-on to ApnaKlub’s $10 million round that it raised from Tiger Global in late 2022. Flourish Ventures, Sequoia India’s Surge, Blume Ventures, and Whiteboard Capital also participated in the current funding round.
Including the fresh capital, the startup has raised $16 million in Series A and $20 million in total so far.
ApnaKlub will use the capital to improve its digital platform for kirana store owners and wholesalers in Tier II and III cities.
"This funding will allow us to continue growing our platform and offering more value to our customers,” said ApnaKlub COO, Manish Kumar.
Founded in 2020 by Shruti and Manish Kumar, ApnaKlub aims to help small businesses access products and services. The startup has processed over two lakh orders, onboarded, and transacted with more than 33,000 partners.
"We seek to partner with experienced founders who are demonstrating meaningful revenue and growth in large target markets in a capital-efficient manner. Shruti and Manish exemplify these parameters," added Sameer Nath, Managing Partner at TrueScale Capital.
In a related development, ApnaKlub also announced the elevation of Gourav Das, CPTO and Ashutosh Kumar, Growth and New Initiatives to the position of founding team members.
Edited by Affirunisa Kankudti