On-demand supply chain startup Kirana247 raised $1 million in pre-series A funding round. The Delhi-based startup raised capital in its run-up to a pre-series A round which is expected at a later stage, as it expands its infrastructure, customer network, brand partnerships, and invest in enhancing the supply chain technology. The early round of funding witnessed participation from a major financial institution and serial entrepreneurs, according to Kirana247.
The supply chain company will utilise the funds to scale its fulfillment network and establish around 40 micro warehouses, according to its statement. It seeks to serve more than 1 lakh active Kirana stories across major states such as Haryana, Delhi, Punjab, Uttar Pradesh, and Rajasthan.
Kirana247 has onboarded more than 5,000 within three years of its launch. On the supplier side, the company has tied up with major manufacturers such as Dabur, Marico, Hindustan Unilever, Reckitt Benckiser, Pepsi, Godrej, among others.
It has built its business model aggregating the fast-moving consumer goods (FMCG) supplier ecosystem and providing just-in-time or JIT delivery of goods to Kirana stores. The supply chain helps in reducing the infrastructure limitations and improves the efficiency of these stores. The company uses deep technology, AI, and ML-based solutions in its supply chain model.
Established in 2018, the B2B e-commerce marketplace offers a one-stop-shop solution for all supply chain and inventory needs of Kirana stores. The company brings all stakeholders of the retail supply chain including traders, manufacturers, retailer shop owners, wholesalers, and brands on a single platform.
“Standalone Kirana stores form the backbone of India's $600 billion FMCG market. Despite their criticality in the retail ecosystem, these stores face tremendous competition from digital and organized retailers. We at Kirana247 are looking at creating a seamless interface that reduces inefficiencies and helps the store owner maximize the earning potential per square foot,'' said Pankhuri Jiwarajka, Co-founder and CMO of Kirana247.