Pumpkart, a subsidiary of Grow India Ventures Pvt. Ltd., has raised $2 million from the Karnataka government under programme, Samruddhi Scheme.
Samruddhi scheme is a programme with a vision of driving entrepreneurs among the economically backward section across Karnataka, who will be entitled to set up a retail store after having gone through a training process.
Pumpkart was selected under this scheme to set up more than 100 stores across Karnataka. So far, the Chandigarh-based startup has successfully handed over more than 75 stores to applicants across the state.
Founded in June 2014 by KS Bhatia, Pumpkart is an online B2B marketplace for water pumps and other related accessories. The platform allows manufacturers, dealers, and customers to buy and sell pumps. It also provides its customers with multiple payment options such as online payment, COD, and EMIs.
Pumpkart has recently signed an agreement in Uttar Pradesh to open 1200 stores across the state. That way, more employment and entrepreneurship opportunities will be offered to people living in rural areas.