ShopKirana, a startup connecting brands and traditional retailers, has secured an undisclosed amount of funding from Japanese seed-stage investors, Incubate Fund. Mumbai-based Lead Angels Group and senior executives from leading FMCG companies also participated in this round.
Speaking about their first investment in India, Nao Murakami, lead investor, Incubate Fund said, “The grocery market in India is mostly supported by small businesses like Kirana stores. We are very happy to join ShopKirana’s journey to empower small retailers in India.”
The FMCG platform, ShopKirana was founded in 2014 by Tanutejas Saraswat, Deepak Dhanotiya, and Sumit Ghorawat. The Indore-based startup helps small retailer stores improve their supply chain by partnering with FMCG brands. With the help of its training and development team, it is educating retailers about new-age business and bringing them online on the ShopKirana App. The team is building a go-to-market platform for 90% of India’s retail market which is unorganised and needs to get transformed quickly.
The startup claims to have over 5,000 kirana (local grocery) stores on the platform and processes over 200 plus orders a day has its major customer base in Indore.
Earlier, the startup had raised an undisclosed amount of funding from Samsung’s Atul Jain and Anil Gelra (Holachef founder). Also, ShopKirana was among the top 10 startups that were part of Inc42’s StartupPulse Bangalore 2nd edition.
Startup competes with B2B solution providers Just Buy Live which raised $20 Mn (INR 136 cr) in Series A round from in January and Peelworks.
