B2B startup Apnaklub gets USD 3 mn in funding from Sequoia Capital India’s Surge

Apnaklub, a B2B wholesale platform for fast-moving consumer goods (FMCG), on Monday announced it has raised USD 3.5 million in a seed round from Sequoia Capital Indias Surge, bringing the total funds raised so far to USD five million. The Bengaluru-based startup said in a statement it connects India’s retailers, such as ‘kirana’ and general stores in semi-urban and rural areas, to a wide range of consumer goods and brands via its network of digitally- connected wholesale partners.

“This funding will enable us to expand across more rural areas in India as well as increase our range of services and products for our partners,” said Apnaklub’s Chief Operating Officer, Manish Kumar. Apnaklub said its agent-led solution, known as the Apnaklub Partner Programme, currently includes the participation of over 5,000 wholesalers. Apnaklub was founded in July 2020 by Manish Kumar and Shruti.

Also read: Manufacturing sector sees three-month high in July as curbs eased

Shruti previously worked at Omidyar Network and Bain & Company. She is an IIT-Delhi gold medallist and a Harvard Business School graduate, the statement said. Manish Kumar has over 20 years of experience in the FMCG distribution sector and has had leadership roles at Walmart India, Metro Cash & Carry, and Future Group, it was stated.