Monday, September 26, 2022
HomeInsightFunding Alert B2B retail startup Soptle raises funding from Soonicorn LLP

[Funding alert] B2B retail startup Soptle raises funding from Soonicorn LLP

A group of illustrious investors, including Vaishnav Shetty (Executive Director and CDO of Allcargo), Pirojshaw Sarkari (CEO of Gati), Saurabh Agarwal (former founder of Fitso), and others raised an undisclosed sum in an angel round led by Soonicorn LLP for the Gurugram-based SaaS-led B2B retail commerce startup Soptle.

A group of illustrious investors, including Vaishnav Shetty (Executive Director and CDO of Allcargo), Pirojshaw Sarkari (CEO of Gati), Saurabh Agarwal (former founder of Fitso), and others raised an undisclosed sum in an angel round led by Soonicorn LLP for the Gurugram-based SaaS-led B2B retail commerce startup Soptle.

The firm intends to use the funds raised to increase product capabilities, grow the workforce, and extend Soptle’s distribution network across the nation.

Soptle is a mini SaaS-led B2B retail commerce platform that was founded in May 2022 by 20-year-old engineering school dropout Pravas Chandragiri. By utilising its nationwide network of over 15,000 merchants, Soptle enables consumer goods companies sell their products.

Read also – [Funding alert] Onsite raises $1.5 million in funding led by Foundamental

“We have a unique distribution approach to building India’s largest FMCG distribution SaaS platform that activates critical connections between FMCG manufacturers and distributors/wholesale as well as retailers,” said Pravas Chandragiri. It also enables FMCG manufacturers to supply products to millions of retailers all over India, creating powerful, positive change for these stakeholders, Pravas Chandragiri said.

While Soptle is primarily focused on adding value to the community of retailers by helping them access a wider range of products and better profit margins, it does offer a significant opportunity for manufacturers aspiring for aggressive growth. Soptle offers effortless geographical expansion and an opportunity to reduce sales and distribution costs for existing markets too.

“We are excited to partner with Soptle as they approach their vision of creating a cutting-edge, asset-light, tech-driven model that enables FMCG manufacturers and retailers in boosting their incomes. The company has achieved impressive growth in its retailer base in less than a quarter while simultaneously striving to enhance the lives of the FMCG manufacturers they collaborate with.” said Saurabh Agarwal, partner, Soonicorn LLP.

About Soptle

Soptle is a Gurugram-based Manufacturer-only marketplace for Retailers. It is building a direct line of communication between manufacturers and retailers across India by digitizing catalogs on the one hand for manufacturers and developing a simple, intuitive app on the other for retailers to initiate commerce.

Soptle provides a direct line of communication between manufacturers and local retailers. Soptle helps ambitious brands access new markets; it also helps enterprising local retailers compete effectively against modern trade – both online and offline.

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