Retail tech platform SmartDukaan has raised $10 million in a Pre-Series A funding round led by Findoc Finvest Pvt. The round included participation from Leafberry Ads Pvt. Ltd. and other angel investors.
According to the company, the funding will be used to expand its horizons and strengthen its offerings. The funds infusion will enable it to make progress in upgrading its technology infrastructure and supply chain management.
Additionally, the move will also help the company expand its product portfolio and streamline operations to cater to the evolving needs of millennial consumers, it said in a release.
“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.
Currently, the platform is in an expansion phase and aims to establish a total of 500 stores by December 2023. Additionally, the allocated funds will be utilised to bolster the company’s back-end operations and elevate its service offerings to end consumers.
With a strong track record of delivering exceptional service to both its franchisee partners and end-consumers, SmartDukaan is well poised to elevate its performance further with this substantial funding. The investment will go a long way towards reinforcing the company’s commitment to customer satisfaction and operational excellence.