Retail tech platform SmartDukaan has raised $10 million in a Pre-Series A funding round led by Findoc Finvest Pvt. Leafberry Ads Pvt. Ltd. and other angel investors participated in the round.
The company claims that the funding will be used to expand and strengthen its product offerings. The funds infusion will allow it to progress in supply chain management and upgrade its technological infrastructure.
According to a press release, the move will also help the company broaden its line of products and improve operational efficiency to better meet the changing demands of millennial consumers.
“The funding will serve as a catalyst for us to enhance and expand our network across the country. 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.
The platform is expanding, intending to open 500 stores overall by December 2023. The allocated funds will also strengthen the company’s back-end operations and improve its service offerings to customers.
With this substantial funding, SmartDukaan has the potential to improve its performance even further. The company has a proven track record of providing exceptional service to its franchisee partners and end-users. The investment will significantly improve the company’s commitment to operational excellence and customer satisfaction.