Soptle, a B2B SaaS platform has raised $300K in an angel round led by Kube VC and Soonicorn LLP. Vaishnav Shetty (executive director of All-Cargo Group), Pirojshaw Sarkari (CEO of Gati Ltd), Ankur Agarwal (co-founder of Dunzo), Saurabh Aggarwal (co-founder of Fitso), Himanshu Periwal (co-founder of Unlu), among others participated in the round.
The money will be used by the business to double its current size over the next two years, hire more employees, and improve its technology and product even more, as per reported by Entrepreneur.com.
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“This is just day one for us. We have empowered over 45,000 retailers and manufacturers in just six months of launch and have seen a consistent 3 times month-on-month growth for the last six months. Being backed by top industry veterans give us a sense that we are heading in the right direction,” said Pravas Chandragiri, founder, Soptle.
It’s revolutionising the retail ecosystem by enabling manufacturers to serve its retailers better and improve manufacturer’s income by providing access to countrywide distribution at a scale through its existing tech-enabled S&D channel cum market linkages.
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“Soptle is truly revolutionising the manufacturer and retailer ecosystem. Its tech-enabled sales and distributions channel-cum-market linkage helps manufacturers expand their business geographically at no fixed cost, improve their capacity utilisation and improve their net margins by three to four times. We feel Soptle has immense first mover advantage to be a category leader in this space,” said Faiz Mayalakkara, designated partner, Kube VC.
In the past six months, Soptle has assembled an outstanding leadership team made up of business titans from Tata, Oyo, Flipkart, Swiggy, IIT-Delhi, etc. According to a statement from the business, it now generates an annual recurring revenue of over $2 mn and has a network of over 45,000 manufacturers and merchants.
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Soptle is a micro SaaS-led B2B retail commerce platform that helps small and large fmcg businesses distribute products by using its network of active retailers across India. The startup aims to streamline the supply chain by giving manufacturers access to countrywide distribution.