SUMMARY
The Anar business app primarily caters to the small-and-medium businesses (SMBs) across the value chain, from manufacturers to retailers and resellers
The funding round was co-led by Elevation Capital and Accel India and the startup plans to use the funds for building the product and hiring across functions
Anar offers SMBs a new medium to create their digital identity, discover and build relations with suppliers and buyers, enable transactions between them, and consequently expand their reach across the country
B2B networking startup Anar has raised $6.2 Mn in seed funding co-led by Elevation Capital and Accel India. The funding round also saw participation from First Cheque, Utsav Somani, Ranjeet Pratap Singh, Farid Ahsan and others.
The startup said it will use the funds to strengthen the product and its technology capabilities. Launched in February 2020 by IIM Lucknow alumni Nishank Jain and Sanjay Bhat, the Anar business app caters primarily to small-and-medium businesses (SMBs) across the value chain, from manufacturers to retailers and resellers, helping them connect and interact with one another.
Jain said that “for all these years, SMB owners are used to getting business through their relationships and networks. With Anar, we want to enable owners to focus on something they are good at, i.e., building their network to grow their business”.
Bhat added, “We are in the early stages and have a strong product roadmap and need candidates who can think on first principles to deliver against our strategy”.
The founders want to make Anar the go-to B2B networking platform for SMBs across India, enabling over 70 Mn businesses to get access to a vast network, create their digital identity, and find a place to stay updated with industry trends. In a short span of time, the platform has gained over INR 2 Lakh registered businesses on the platform.
On the Anar business app, all retailers, resellers, wholesalers, distributors and manufacturers can create their own profiles, upload their catalogues, create posts, form connections, post requirements with one another. Anar focuses on onboarding businesses across multiple verticals, especially jewellery, clothing, grocery stores, footwear, leather products, and similar verticals.
