Funding round led by Kube VC, We Founder Circle, 888VC, Iceland Venture Studio (IVS)

Soptle, India’s fastest growing SaaS-led B2B marketplace for FMCG manufacturers and retailers, today announced it has closed a $1 million pre-seed investment in its latest funding round. The round was led by Kube VC along with We Founder Circle. This round also saw participation from Iceland Venture Studio (IVS), Nyra Ventures and founders of Dunzo, Jar, Bijak, 888VC and Managing partner of Rocketship.vc. Existing investors – Kube VC and Dunzo founder Ankur Agarwal –also participated in the funding round.

The pre-seed funding will power Soptle’s expansion of the retailer-network reach and manufacturing-partner footprint across India, with new product offerings and technology enhancement. This will further empower the local retailer and manufacturers to reach larger markets and expand their services in other Indian geographies. 

According to Pravas Chandragiri, the 20-year-old CEO & Founder of Soptle, “I am delighted to receive such support from our investors who believe in Soptle’s vision and partnered with us to empower local Indian retailers and manufacturers. Over the last two years, we have worked hard to bring together 80,000+ Kirana store owners and retailers across India on our platform who are now using our technology for their geographical expansion. We strongly believe that technology can help us realize the true potential of this untapped segment of the Indian FMCG industry.”

“We are elated to partner with Soptle, which is based on a business model that encapsulates our view on how technology can connect various manufacturers to improve distribution while also building scalable, defensible and profitable business models. The traction achieved for their manufacturers-led market linkage encouraged us to explore the segment and contribute to its growth,” said Neeraj Tyagi, Founder, of We Founder Circle.

According to Kube VC: “With this innovative, tech-led, manufacturer-centric and distribution-first model, Soptle has set out on a journey to create a next-generation B2B commerce platform that increases value realization and income for manufacturers. We are delighted to support Soptle which is enabling manufacturers better access to market and distribution of their product using Soptle’s strong tech infrastructure.”

Soptle closed two angel rounds in 2022. With the latest pre-seed round, the startup has cumulatively raised $1.4 million from Kube VC, We Founder Circle, Iceland Venture Studio, Nyra Ventures, and founders and CXOs of Dunzo, Jar, Bijak, Gati, Google, and All-Cargo Group.

Founded in 2021 by Pravas Chandragiri, Soptle’s goal is to empower the 8+ million regional FMCG manufacturers and retailers across India. The startup helps FMCG manufacturers better serve the existing supply chains by providing access to procurement, production, demand generation, distribution, cash collection, and reconciliation. By digitizing and incentivizing the FMCG manufacturer, Soptle has become a one-stop marketplace for the FMCG community.

About Soptle

Soptle is the brainchild of 19-year-old, Pravas Chandragiri, who comes from the small town of Balasore in Odisha. After graduating from high school, Pravas decided to pursue entrepreneurship rather than take admission to a college. Founded in 2021, the Gurugram-based Startup is India’s first SaaS-led B2B FMCG commerce platform that enables FMCG manufacturers to digitize their workflow, day-to-day activities, conduct their existing business in a more efficient manner, and also increase sales to retailers in other geographies by enhancing their utilization capacity. Soptle’s investors include founders and CXOs from Dunzo, Jar, Gati, Google, All-Cargo Group, Kube VC, We Founder Circle, Iceland Venture Studio, and Nyra Ventures.

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