Business-to-business marketplace Soptle has secured an investment of $1 million in a pre-seed funding round co-led by Kube VC along with We Founder Circle. The funding round also witnessed participation of Iceland Venture Studio (IVS), Nyra Ventures, and Dunzo founder Ankur Agarwal.
Soptle has closed two angel rounds in 2022. With the latest pre-seed round, the startup has cumulatively raised $1.4 million to date.
The company plans to utilise the funds for the expansion of the retailer network reach and manufacturing-partner footprint across India, with new product offerings and technology enhancement, Soptle said in a press release.
Founded in 2021 by Pravas Chandragiri, the startup helps FMCG manufacturers better serve the existing supply chains by providing access to procurement, production, demand generation, distribution, cash collection, and reconciliation. By digitising and incentivising the FMCG manufacturer, Soptle aims to become a one-stop marketplace for the FMCG community.
According to the Gurugram-based startup, with its manufacturer-centric and distribution-first model, Soptle has set out on a journey to create a next generation business to business commerce platform that increases value realisation and income for manufacturers.
The firm claims to have empowered more than 850 distribution partners, 72,000 retail partners and has over 1,300 SKUs.
