SUMMARY
Boundless will deploy a $1 Mn to develop its ecommerce platform, while $500K will be invested in developing beverage products
The remaining $1 Mn will be used on marketing, sales partnerships and social media
The startup plans to onboard more than 1,000 third-party F&B brands in the coming two years on its platform
Ecommerce enabler Boundless Brands has raised $2.5 Mn in seed funding round from US and India-based angel investors.
The startup plans to invest $1 Mn to build its ecommerce platform, while $500K in developing beverage products and the remaining $1 Mn will be spent on marketing, sales partnerships and social media.
Further, Boundless plans to onboard more than 1,000 third-party F&B brands in the coming two years on its platform.
Founded in 2023 by Sandeep Agarwal, founder of Droom and ShopClues, and a Silicon Valley veteran Nagendra Shukla, Boundless is a full-stack ecommerce platform that offers services including technology, catalogue, digital marketing, payment, fulfilment and customer support to food and beverage (F&B) brands.
The startup said that it plans to launch dozens of beverage products to cater to millenials and GenZ demographic in India, which account for over 50% of the total $100 Bn F&B market.
“We are not only building our portfolio of beverages but also offering a full-stack e-commerce platform and managed services for the F&B industry. Building this company with Sandeep as founding mentor will help us to tap into his impeccable track record in e-commerce and marketplaces,” said Nagendra Shukla, cofounder and CEO of Boundless Brands.
Prior to founding Boundless, Nagendra spent 23 years in Silicon Valley as a two-time entrepreneur and working in tech leadership roles in Sephora, HP, Intuit and McAfee. He will drive the brand and marketing strategy and also, work closely with the team to identify apt partners in manufacturing, flavour building, logistics and fulfilment.
Meanwhile, Sandeep will drive the strategy and mentor the team, without holding any executive role at the company.
“Boundless is a platform play with an ecosystem of services around it and it will allow 3rd party brands in F&B to focus on their core competencies of product or brand building and let Boundless handle the e-commerce value chain,” Sandeep Aggarwal said.
The startup is currently based out of Gurugram and functional with18 employees.
Just a year back, ecommerce enabler startup GoKwik bagged $35 Mn, Tiger Global made its first seed fund investment in Shopflo in the same year. Another startup CommerceIQ raised $115 Mn at a unicorn valuation last year.
As per a report by IBEF, India’s ecommerce market was pegged at $46.2 Bn in 2020. The industry is set to become a $350 Bn space by 2030.
