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Business News/ Companies / News/  Apnaklub raises $3.5 million in funding from Sequoia Capital India’s Surge
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Apnaklub raises $3.5 million in funding from Sequoia Capital India’s Surge

With this fundraise, the total funds raised by Apnaklub stands at $5 million

Apnaklub connects India’s retailers, such as kiranas and general stores in semi-urban and rural areas, to a wide range of consumer goods and fast-moving consumer goods (FMCG) brands via its network of digitally-connected wholesale partners.Premium
Apnaklub connects India’s retailers, such as kiranas and general stores in semi-urban and rural areas, to a wide range of consumer goods and fast-moving consumer goods (FMCG) brands via its network of digitally-connected wholesale partners.

BENGALURU : Business-to-business (B2B) wholesale platform, Apnaklub, on Monday said it has raised $3.5 million (about 26.033 crore) from Sequoia Capital India’s accelerator programme, Surge. With this fundraise, the total funds raised by Apnaklub stands at $5 million.

Founded in 2020, Apnaklub connects India’s retailers, such as kiranas and general stores in semi-urban and rural areas, to a wide range of consumer goods and fast-moving consumer goods (FMCG) brands via its network of digitally-connected wholesale partners.

Through the social commerce model, the company has built an independent sales network for brands that want to penetrate new markets.

The startup’s mission is to encourage and empower people to set up their own hyperlocal micro-distribution businesses by providing them with better profit margins, access to a large assortment of brands and stock-keeping units (SKUs), and supply consistency.

“With Apnaklub, we are providing wholesalers across the country with an organized supply infrastructure and digital tools to cater to the hyperlocal needs of shopkeepers and large families around them. This funding will enable us to expand across more rural areas in India as well as increase our range of services and products for our partners," said Manish Kumar, chief operating officer of Apnaklub.

The current fundraise comes just a month after the startup announced that it had raised fresh funds as part of its pre-series A round, led by Blume Ventures and Whiteboard Capital.

“At Apnaklub, we’re going beyond providing an organized supply of FMCG goods to semi-urban and rural areas. Our mission is to equip people across India with the means to set up their own hyperlocal micro-distribution businesses, by providing them with better profit margins, access to a large assortment of brands and ensuring supply consistency. We’re empowering people to take charge of their livelihoods," said Shruti, founder and chief executive officer (CEO) of Apnaklub.

Apnaklub’s network of agent partners helps collect demand from neighbouring kirana stores, aggregate them, and place an order on the app. Apnaklub then delivers the goods to the partner, who then distributes them to the stores.

Apnaklub Partner Program currently includes over 5,000 wholesale partners. Partners are provided with personalized training and support to create sustainable wholesale businesses for themselves, while also earning a commission on each order they fulfil, the company said.

The company was a part of Sequoia Surge’s fifth cohort of 23 companies.

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Published: 02 Aug 2021, 12:45 PM IST
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