Apnaklub raises $16 million in series A funding round

By

Maverick Martins

Published
Jan 13, 2023

Business-to-business (B2B) platform Apnaklub has raised $6 million (Rs 49 crore) in series A funding round from Truescale Capital and ICMG Partners. Flourish Ventures, Sequoia India’s Surge, Blume Ventures, and Whiteboard Capital also participated in the funding round.

Apnaklub had earlier raised $10 million from Tiger Global in late 2022, bringing total funding in the series A funding round to $16 million.

The company will utilise the funds to boost its digital platform for kirana store owners, wholesalers in tier 2, 3 cities and beyond.

Commenting on the investment, Sameer Nath, managing partner at Truescale Capital in a statement said, “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.”

Manish Kumar, chief operating officer at Apnaklub added, “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.”

Founded in 2020 by Shruti and Manish Kumar, Apnaklub aims to help small businesses access products and services. It claims to have processed over two lakh orders, onboarded, and transacted with more than 33,000 partners.