Smartphone retail chain SmartDukaan has raised $10 million in a pre-Series A funding round led by Findoc Finvest Pvt. Ltd. The round also saw participation from Leafberry Ads Pvt. Ltd and some angel investors.
SmartDukaan aims to utilise the investment for franchise partnerships, enhancing the technology infrastructure and expanding their product portfolio along with talent acquisition, the company said in a press release.
“Our unwavering mission remains to be the largest mobile retail network in India, digitising and empowering retailers, and also inviting aspiring entrepreneurs to be part of a profitable mobile retail business,” said Tarun Verma, CEO and Founder, SmartDukaan.
SmartDukaan claims to have a network of 350 stores across 100 cities in north India. It further plans to expand to 500 stores by the end of December 2023.
It has tied up with smartphone brands such as OnePlus, Vivo, Oppo, Samsung, and others.
Findoc is an Indian financial and Investment company dealing with a range of financial products. The firm offers stock trading services to help institutions, businesses, and individual investors grow their wealth.