Soptle will utilise the fund to fuel the expansion of its retailer-network reach and manufacturing partner footprint across India
Soptle, a SaaS (Software as a Service)- led B2B (business-to-business) marketplace for FMCG manufacturers and retailers, has raised a $1 million pre-seed investment from Kube VC and We Founder Circle. This round also saw participation from Iceland Venture Studio (IVS), Nyra Ventures and founders of Dunzo, Jar, Bijak, and Managing Partner of Rocketship. vc. Existing investors – Kube VC and Dunzo founder Ankur Agarwal also joined the round.
Soptle will utilise the fund to fuel the expansion of its retailer-network reach and manufacturing partner footprint across India. Additionally, it will spend money to offer new products and enhance technology.
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.
Soptle was founded in 2021 by Pravas Chandragiri, then a 19-year-old high school graduate, who decided to become an entrepreneur instead of joining college.
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.
Talking about the fundraising round, Chandragiri said, “Our team has worked hard to make this idea grow, and the pre-seed round is a validation of our efforts. The pre-seed round is another step towards many new milestones. I am thankful to both the Soptle team and the investors for their partnership and passion.”
Addressing their decision to invest, Neeraj Tyagi, founder of We Founder Circle, said, “Pravas, at such a young age, has created a business model that encapsulates our view on how technology can connect various manufacturers to improve the distribution while also building scalable, defensible and profitable business models. We are encouraged by the traction achieved for their manufacturers-led market linkage.”
“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. Soptle enables manufacturers better access to market and distribution of their product using Soptle’s tech infrastructure,” a spokesperson from Kube VC added.
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Prior to this, the company raised Rs 1.5 crore in a round led by ah! Ventures Angel Platform in 2021