A 20-year-old entrepreneur founded B2B retail company Soptle receives capital from Soonicorn LLP

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Gurugram-based SaaS-based B2B retail commerce company Soptle has been able to raise an unspecified amount via an angel round which was led by Soonicorn LLP and a group of prominent investors, including Vaishnav Shetty, (Executive Director and CDO of Allcargo), Pirojshaw Sarkari (CEO of Gati) and Saurabh Agarwal (the the co-founder of Fitso) as well as others.

It was launched in May 2022 by a 20-year-old engineering student who dropped out of school. Pravas Chandragiri. Soptle was founded in May 2022 by a small SaaS-based B2B retail commerce platform that aids consumers’ goods manufacturers distribute their products using its more than 15,000 retail stores across the United States.

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At present, the platform hosts around 400 distributors as well as 60 manufacturing companies through its system. The company intends to use the funds raised to expand its distribution network across the nation, expand the capabilities of its products, and expand the team.

“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,” said Pravas Chandragiri. It also allows FMCG manufacturers to provide their goods to millions of retailers throughout India which can result in a significant positive change for all stakeholders according to him.

According to industry reports according to the industry reports, there’s one Kirana (grocery) store for each household in India. This means that there are more than one million Kirana shops that could become clients for a retail commerce model, giving them the possibility of competing effectively with the modern retail options online and offline , and expand their business profitably.

In announcing the investment, Saurabh Agarwal who is a Partner of Soonicorn LLP, said, “We are thrilled to work with Soptle in their goal of developing an innovative, asset-light, technologically-driven model that aids FMCG manufacturers and retailers to work together to increase their earnings. Soptle has seen an impressive increase in its retailer base in just one quarter, while also working to improve the lives of FMCG Manufacturers they work with.”

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