April 16, 2021
Funds will be used to expand business
AnKa SumMor, a sales and distribution (S&D) platform for FMCG sector, has raised ₹3 crore in a pre-Series A round led by angel investment platform Inflection Point Ventures (IPV).
The funds raised will be used towards scaling business in Hyderabad and Chennai with improved infrastructure, coverage and branding. It will be also used for expanding operations to Bengaluru, the company said in a press statement.
Fund usage
Ashok George, Founder & CEO, AnKa SumMor, said: “This investment will predominantly go into building the tech stack, critical to manage complexity at scale efficiently and effectively, enhance predictive capabilities and provide market insights to brand partners. We will also invest in increasing S&D infrastructure and resources to increase the number of outlets serviced to deliver growth for existing brand partners, and capacity to add more brands on our platform.”