Soptle, a retail commerce platform that focuses on software as a service (or SaaS), has raised an undisclosed angel funding round that was headed by Soonicorn LLP. A number of logistics investors, including Vaishnav Shetty (Executive Director and CDO of All-cargo Group), Pirojshaw Sarkari (CEO of Gati Ltd), and Saurabh Agarwal (Ex-Founder Fitso (Acquired by Zomato), among others, also participated in the round.

According to the release shared by the company, the money raised will go toward building out Soptle’s national distribution network, scaling up product capabilities, and expanding the staff.

Soptle has developed an asset-light one-stop platform that removes the disorganised and ineffective middlemen from the conventional supply chain by digitising and rewarding FMCG businesses. A $500 billion FMCG market is controlled by India’s estimated 10-15 million kirana outlets. This creates a promising possibility for a platform like this to use technology to build a capital-efficient and direct distribution network for the community of manufacturers and retailers.

Pravas Chandragiri, Founder of Soptle mentioned that he has identified that assortment of products, regional brands, poor margins, and zero-bargain power were some of the bigger pain-points of smaller neighborhood stores, which led him to start working towards solving them and help kiranas grow and scale.

He further added “We have a unique distribution approach to building India’s largest FMCG distribution SaaS platform that activates critical connections between FMCG manufacturers and distributors/wholesale as well as retailers. It also enables FMCG manufacturers to supply products to millions of retailers all over India, creating powerful, positive change for these stakeholders,”.

According to industry estimates, India has one food store (kirana) for every 100 households. As a result, there are about one million kirana stores that could be potential clients for a retail commerce model, giving them the chance to successfully compete with contemporary retail options both online and offline and expand their companies profitably.

Soptle funding

Soonicorn LLP, Partner, Saurabh Agarwal, said “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. 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.”

About Soptle

Soptle,a micro Saas-led 828 retail commerce platform that was established in May 2022 by Pravas Chandragiri who started on his entrepreneurial journey from a young age of 17 years and consolidated all of his learnings and network to start up Soptle. By utilising its nationwide network of more than 15,000 retailers, Soptle assists consumer goods companies with product distribution. Soptle is a platform that also includes 60 manufacturers and around 400 distributors.

Soptle seems to be an intriguing startup with inspiring development on internet marketplace platforms. All the best to the whole group. This will give them an enormous achievement in the future.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.