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Shopkirana Raises $38 Million Led By Info Edge, Oman India, Sixth Sense Ventures

Shopkirana Raises $38 Million Led By Info Edge, Oman India, Sixth Sense Ventures

01/26/22, 11:50 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/IN.svgbengaluru
Money raised
$38 million
Bengaluru: Business-to-business grocery startup Shopkirana said it has raised $38 million from Info Edge, Oman India joint investment fund, Sixth Sense Ventures and other investors.

Company Info

Company
Shopkirana
Location
bengaluru, karnataka, india
Additional Info
Founded in 2015 in Indore, the company claims to be the first mover on selling groceries directly to retailers from brands. But ShopKirana's cofounder Sumit Ghorawat told ET that the company has perfected a model that can help it launch in a new city every 15 days. StoriesHow is the company different from Udaan, Jiomart?Essentially, all the players have a common goal -- digitise the decades-old unorganised wholesale market and bypass middlemen. Right from its inception, the company has focused on selling only packaged FMCG goods such as detergents, hair oil, shampoo, cosmetics and biscuits, not getting into selling highly perishable goods like fresh fruits, vegetables and staples. The company conducted a pilot in Mumbai and Indore first and later decided to focus on tier-2 cities such as Indore after realising that the market was more unorganised in smaller cities. The company follows a ‘solve first, scale later’ approach rather than the other way around, which the biggest players follow. said its digital platform, Direct, is “highly sticky” for both retailers and brands, and as a result, the company has been able to achieve a line item fill rate of 97.5%. That means for every 100 items the trader has demanded, the company has been able to deliver 97.5. The platform also generates heat maps and meaningful insights for brands. Bengaluru: Business-to-business grocery startup Shopkirana said it has raised $38 million from Info Edge, Oman India joint investment fund, Sixth Sense Ventures and other investors. Ghorawat said that Shopkirana is the first company in the sector to break even operationally.