Soptle raises funds in angel round led by Soonicorn

By

Isabelle Crossley

Published
Aug 31, 2022

Business-to-business retail e-commerce platform Soptle has raised funds in an angel round led by Soonicorn LLP and will use the capital to expand its distribution network and products and grow its team. 

The business also received funding from a number of logistics specialists during the round including All-cargo Group director Vaishnav Shetty and Gati CEO Pirojshaw Sarkari, ET Bureau reported. By using Software as a Service technology, the business is designed to help fast moving consumer goods producers distribute their products through Soptle’s network of 15,000 retailers. 
 
“We have a unique distribution approach to building India’s largest FMCG distribution SaaS platform that activates critical connections between FMCG manufacturers and distributors or wholesale as well as retailers,” said Soptle founder Pravas Chandragiri, ET Bureau reported. “It also enables FMCG manufacturers to supply products to millions of retailers all over India, creating powerful positive change for these stakeholders.” 

Pravas Chandragiri launched Soptle in May this year at 20 years old. The business aims to cut out the middle man from the traditional supply chain and link up manufacturers with the vast network of kirana stores across India by harnessing technology. 
 
“We are excited to partner with Soptle as they approach their vision of creating a cutting-edge, asset-light, tech-driven model that enables FMCG manufacturers and retailers in boosting their incomes,” said Soonicorn LLP partner Saurabh Agarwal, the Economic Times reported. “The company has achieved impressive growth in its retailer base in less than a quarter while simultaneously striving to enhance the lives of the FMCG manufacturers they collaborate with.”