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Mumbai-based White Shadow Technology Pvt. Ltd that operates online B2B marketplace Bharat Bazaar, has raised an undisclosed amount of Seed funding from BeeNext, TV Mohandas Pai, Kunal Shah and Sandeep Tandon (FreeCharge co-founders).
Other investors who participated include Rohit Bansal and Kunal Bahl (Snapdeal co-founders); Anupam Mittal (co-founder, Shaadi.com); Amit Gupta (co-founder of Inmobi); Tracxn Labs and others.
Neha Singh, co-founder at Tracxn said, “The grocery supply chain, in its current design, has a lot of middlemen and this presents a significant untapped opportunity to introduce efficiency across the whole value chain. By leveraging technology, Bharat Bazaar has streamlined end-to-end procurement processes. The B2B grocery delivery market for fruits & vegetables has a very large addressable market, with customers ranging from wholesalers, kirana (grocery) stores, hyper markets, hotels, and B2C delivery startups.”
Founded in July 2015, Bharat Bazaar (earlier called Truce-True Price), is a mobile app that helps bring transactional ease into the fruits and vegetables wholesale supply chain. The startup partners with farmers, local aggregators, wholesalers, bulk buyers, food processing industries, and exporters. It has a buyer base in Maharashtra, Delhi, MP, Karnataka, Gujarat, and Rajasthan.
The funding will be used to increase team size and presence across multiple Indian cities. Bharat Bazaar aims to target 50,000 active users by December ’16.
The app currently allows access to offline logistics, quality, and payment facilitation. Bharat Bazaar aggregates and optimises logistics by identifying the best sources to buy and sell based on data-driven algorithms.
Earlier this month Mahindra Univeg invested an undisclosed amount in ecommerce startup MeraKisan. In August 2016, Delhi-based agritech startup DayBox raised $104K (INR 70 Lakh) from Ashutosh Lawania (co-founder, Myntra); Rajul Jain (SVP Supply Chain, Myntra and co-founder, Yebhi.com); Badal Malick (ex-VP Omnichannel, SnapDeal); Rishi Gupta (CEO, Fino Paytech Ltd); and six other angel investors.
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