WCube has raised an undisclosed amount in seed funding from Mumbai Angels, a premier platform for private investments along with its Co-Investment Partner x10xventures, a venture investments, and advisory house.
many investors including FAAD Network and other prominent angel investors and family offices also participated in this round.
The company will use the funds for scaling the business and expanding its footprint to new geographies.
Delhi-based Startup was founded in 2019 by Udit Karan Chandhok and Akash Narain Mittal, WCube is a B2B procurement enabled solution for large and medium-sized enterprises.
“WCube creates a synergy between technology, procurement, and supply chain. We envisage ourselves to be the pioneers of ‘The Way Businesses Buy’. WCube has chosen the path of selling the bottom of the pyramid product to large enterprises making Unsexy the Sexy! Today with over 30 categories of products, WCube is fast expanding its national footprint. We are delighted to have prominent and strategic investors join our journey of creating stronger value”, said, Udit Karan Chandhok and Akash Narain Mittal, Co-Founder of WCube.
WCube has a team of 50 members looking to expand nationally in the coming quarters. The company currently serves over 250 customers and sells over 30 categories and has over 50 million products.
“In the age of technology-enabled disruptions becoming a necessity, the WCube procurement and supply solution is a milestone achieved towards attaining maximum efficiency through a streamlined value chain. With the additional funds coming in, we are confident that WCube would be able to replicate its success model through the subsequent growth stages”, said, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels.
Mumbai Angels Network is one such platform that focuses on new venture investments. Mumbai Angels has a strong portfolio of 190+ regions and cities across India.
“WCube is leading the way in helping mid-and large-sized enterprises buy better, and is solidly positioned to grow sustainably and rapidly into Indian entities’ preferred procurement partner,” said Co-Lead Investors RishabhDugar, Co-Founder and CMD, and Sanyam Dugar, Co-Founder and CEO, x10xventures.