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Superzop, a B2B agri-commerce platform for small Kirana stores, has raised Rs 8 crore in pre-Series A round of funding from MS Fund of SIDBI Venture Capital Ltd, IIM Ahmedabad’s technology incubator, CIIE Initiatives and angel investor Gurumurthy Raman.
Superzop, started by IIMA and XLRI alumnus Darshan Krishnamurthy, Raghuveer Allada and Prithwi Singh, has a network of more than 3000 retailers in Mumbai. The company intends to use the funds to expand its existing store network with a target to reach over 30,000 B2B customers over the next year and strengthen its technology platform, the company said in a statement.
“About 90 per cent of $500 billion food and grocery market is served by 10 million unorganised small retailers. Staples is more of a channel driven product than brand driven and Superzop is building a strong channel for staples by using technology, data science and offering institutional credit to the small retailers,” Vipul Patel, Vice President, Investments at CIIE Initiatives said.
“The fund will be supporting Superzop’s team in scaling its operation in Mumbai and strengthening its technology platform,” he added.
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