MaxWholesale, a B2B e-commerce platform for kirana (mom-and-pop stores) has raised $3 million led by Indian Angel Network and Al Falaj Investment Company (AFI), an Abu Dhabi based private family office. Existing investor Maple Capital also participated in this round along with Infoedge’s ex-CFO Ambarish Raghuvanshi, Maple Capital’s Abhinav Grover and Biba Group’s Siddharth Bindra among others.
MaxWholesale is a technology company that enables kirana stores to discover price and scheme on various FMCG brands and products and order the same for reselling. The company has also forged partnerships with over 150 FMCG companies, it said in a prepared statement. Headquartered in Gurgaon, the company also manages inventory in its warehouses and has developed its own logistics arm for next-day delivery of orders along with its own UPI payment gateway for the specific payment needs of its partner retailers and distributors.
“There was a dire need for technology in this sector and hence, we introduced data science into this field to make restocking more predictable and organized. With this approach, we are aiming to change the way in which the business is done at these stores,” said Samarth Agrawal, founder & CEO, MaxWholesale which clocked 20 times revenue growth last year. Even though India has more than 500 million internet users, more than 97% of the nation’s population prefers to buy its groceries offline from their neighborhood Kirana merchants, the company said in a statement.
MaxWholesale competes with ShopKirana, Amazon, and Jumbotail.
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