Soptle, a Gurugram, India-based SaaS-led B2B marketplace for FMCG (Fast Moving Consumer Goods) manufacturers and retailers, raised $1 million in a pre-seed funding round.
The round was led by Kube VC, along with We Founder Circle, with participation from Iceland Venture Studio (IVS), Nyra Ventures, and founders of Dunzo, and the managing partner of Rocketship.vc. Existing investors, Kube VC and Dunzo founder Ankur Agarwal - also participated in the funding round.
Soptle plans to use the funds to expand its retailer-network reach and manufacturing-partner footprint across India, along with new product offerings and technology enhancement.
"When I started Soptle, my aim was to help the humble Kirana store owner in small towns and cities. I never had any doubt about both the idea behind Soptle and India's untapped potential. Our team has worked hard to make this idea grow, and the pre-seed round is a validation of our efforts. The pre-seed round is another step towards many new milestones. I am thankful to both the Soptle team and the investors for their partnership and passion," said Pravas Chandragiri, CEO and founder, of Soptle.
The startup aims to create a next-generation B2B commerce platform that increases value realization and income for manufacturers.
Company: Fransisco Technology Pvt. Ltd.
Round: Pre-Seed Round
Funding Month: May 2023
Lead Investors: Kube VC
Additional Investors: We Founder Circle, Iceland Venture Studio (IVS), Nyra Ventures, and founders of Dunzo, managing partner of Rocketship.vc, and Ankur Agarwal
Company Website: https://soptle.com/
Software Category: B2B Retail Commerce Platform
About the Company: Soptle is a micro SaaS-led B2B retail commerce platform that helps small and large FMCG businesses distribute products by using its network of active retailers across India. Soptle's platform enables FMCG manufacturers to digitize their workflow, conduct their existing business more efficiently, and increase sales to retailers in other geographies by enhancing their utilization capacity. The startup aims to streamline the supply chain by giving manufacturers access to countrywide distribution.