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ApnaKlub Raises $ 6 Million in Funding Round

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ApnaKlub, a business-to-business fast moving consumer goods wholesale startup, has raised an additional $6 million from TrueScale Capital and ICMG Partners, as per reports.

This is a continuation of ApnaKlub’s $10 million round raised from Tiger Global late last year, taking its total in the round to $16 million.

The company will use the money to improve its technology and sell its services to more kirana (corner) store owners in tier II and tier III cities.

The development achieved at the time when Lightspeed Venture Partners-backed Udaan, which is also the first mover, is struggling to raise funds and improve unit economics.

Meanwhile, newer players such as ElasticRun and ShopKirana are making inroads into the space along with Reliance’s Jiomart Partners.

What we can promise and what we do promise our retailers, is that we are here for the next 20-40 years, we are going to be servicing your market, we are going to be helping you improve incomes, and we are going to be giving you reliable delivery

ApnaKlub buys products directly from FMCG companies, takes ownership of these products, stores goods in its warehouses, and sells them to mom-and-pop stores in tier II and tier III cities across India.

“The company has the best unit economics among players in the market, and its differentiation is in ensuring reliable delivery and a better assortment for customers,” says cofounder and CEO Shruti.

“According to MCA data (regulatory filings), our margins and the cost of transportation are better than a number of players in the sector. What we can promise and what we do promise our retailers, is that we are here for the next 20-40 years, we are going to be servicing your market, we are going to be helping you improve incomes, and we are going to be giving you reliable delivery,” Shruti adds.

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