ApnaKlub Closes Series A At $16 Million With Additional Investors The funds will be used to enhance a digital platform for Kirana store owners and wholesalers in tier 2 and tier 3 cities to purchase goods and services
By Teena Jose
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
ApnaKlub, the B2B wholesale platform for fast moving consumer goods, has raised additional funding from TrueScale Capital and ICMG Partners, along with participation from Flourish Ventures, Sequoia India's Surge, Blume Ventures, and Whiteboard Capital. This is follow-on to ApnaKlub's $10 million round raised from Tiger Global in late 2022, bringing total funding in the round to $16 million. ApnaKlub has reportedly raised $20M till date. The funds will be used to enhance a digital platform for Kirana store owners and wholesalers in tier 2 and tier 3 cities to purchase goods and services.
"We are thrilled to have the support of such reputable investors as TrueScale Capital and ICMG Partners, as well as the continued strong support of our existing investors. This funding will allow us to continue growing our platform and offering more value to our customers," said Manish, COO, ApnaKlub.
ApnaKlub has seen tremendous success in its first two years of operation. The company has processed over 2 lakh orders, on-boarded and transacted with more than 33,000 partners, all while keeping burn to a minimal level, claimed by the company in a statement.
"We are delighted to help ApnaKlub achieve its expansion objectives. We seek to partner with experienced founders who are demonstrating meaningful revenue and growth in large target markets in a capital-efficient manner. Shruti and Manish exemplify these parameters. We have been very impressed with ApnaKlub's ability to scale while sustaining best-in-class unit economics," said Sameer Nath, managing partner at TrueScale Capital.
Founded in 2020 by Shruti and Manish, ApnaKlub is focused on making it easier for small business owners in India to access the products and services they need to run their businesses effectively.
