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April 16, 2021
Funds raised to be used for scaling business in Hyderabad and Chennai
AnKa SumMor, a sales and distribution (S&D) platform for the FMCG sector, has raised Rs 3 crore in a Pre-Series A round led by Inflection Point Ventures, one of India’s largest angel investment platforms in India. The funds raised will be utilised towards scaling business in Hyderabad and Chennai with improved infrastructure, coverage, and branding. The funds will also be used for expanding operations to Bengaluru, along with technology development and deployment.
On a journey to disrupt FMCG sales and distribution for emerging brands, AnKa SumMor had launched the SumMor Model in 2018, which has added value for brand partners with increased revenue, reduced S&D cost and real time transparent MIS. These features have not only helped the associated businesses grow, but have also triggered the operations of the start-up to a higher level, venturing into Chennai and plans to launch Bengaluru in FY
AnKa SumMor raises a Pre-Series-A funding round of INR 3 CR adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
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AnKa SumMor, a startup aiming to disrupt the sales and distribution channels for FMCG sector has raised INR 3 crore in a pre-Series A round of funding led by Inflection Point Ventures (IPV). IPV was started in 2018 and plans to invest INR 155 crore in 2021 across 60 startups. This is IPV’s 12th deal for 2021.
The raised funding will be utilised in scaling businesses across Hyderabad and Chennai with improved infrastructure, coverage, and branding. The team also looks to expand operations to Bengaluru, with focus on technology development and deployment.
Ashok George, Founder & CEO, AnKa SumMor added that
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.