BENGALURU: Sales and distribution platform, AnKa SumMor, on Friday said that it has raised ₹3 crore as a part of its pre-Series A round led by Inflection Point Ventures.
According to the company, the funds raised will be utilized towards scaling business in Hyderabad and Chennai, as well as for expanding operations to Bengaluru. The company will also ramp up its technology deployment with this fund raise.
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The three-year-old startup provides plug, play sales and distribution platform for challenger and emerging FMCG brands, acting as the single point of contact to serve all retail channels in a city or state with real-time structured data and market insights for partner brands.
“This investment will predominantly go into building the tech stack, critical to manage complexity at scale efficiently and effectively, enhance predictive capabilities and provide market insights to brand partners. We will also invest in increasing infrastructure and resources to increase the number of outlets serviced to deliver growth for existing brand partners,” said Ashok George, founder and chief executive officer, AnKa SumMor.
In terms of distribution network, AnKa SumMor has covered retail channels including e-commerce, modern trade, general trade, select institutions and upcountry distributors.
It has covered over 2,600 relevant stores, working with 10 brands so far including McVities, Yoga Bar, Wai Wai, Paper Boat, Yellow Diamond, Bombay Shaving Company, Spice Story, Budweiser, Om Bhakti, Again Drinks.
“Success of FMCG businesses depends on how well and deep their distribution model is. India is a complex geography, and it has taken global FMCG companies decades to cover the entire country by heavily investing in setting the distribution infrastructure. The new age brands don’t have to invest millions in setting up their distribution channel,” explains Vinay Bansal, founder and chief executive officer of Inflection Point Ventures.
Inflection Point Ventures is looking to invest ₹155 crore across more than 60 startups, this year.
The FMCG industry is the fourth largest sector in India and is expected to reach $260 billion by end of 2025, along with emerging brands growing at a pace of 2 to 3 times the rate of established brands.