Soptle Secures $1 Million In Pre-Seed Funding
Soptle, a SaaS-led B2B marketplace for Fast-Moving Consumer Goods (FMCG) manufacturers and retailers, has secured $1 million in pre-seed funding from Odisha. This is a significant milestone for the Indian startup ecosystem, especially as it further solidifies India's position on the global startup map, Soptle said in a statement.
The $1 million pre-seed funding will be channelled towards expanding Soptle's retailer network and manufacturing partner footprint across the country. Furthermore, it aims to enhance the platform's product offerings and technology, thereby creating a more robust, efficient system for manufacturers and retailers, it said.
The funding round saw participation from Kube VC, We Founder Circle, Iceland Venture Studio, Nyra Ventures, and founders of well-known start-up such as Dunzo, Jar, and Bijak. It follows two angel rounds in 2022, bringing Soptle's total funding to $1.4 million.
The 19 years old CEO & Founder of Soptle, Pravas Chandragiri said, “Our team has worked hard to make this idea grow, and the pre-seed round is a validation of our efforts."
Soptle was launched by Pravas in 2021. By disrupting traditional supply chains, Soptle facilitates access to procurement, production, demand generation, distribution, cash collection, and reconciliation.
