AnKa SumMor Raises INR 11.6 Cr Pre-Series A Led By Inflection Point Ventures

Asia's Tech News Daily

Bengaluru-based sales and distribution (S&D) enablement platform AnKa SumMor on Wednesday announced to have raised INR 11.6 crore in Pre-Series A led by Inflection Point Ventures (IPV). Marquee angel investors like Pratul Shroff from Waao Partners, Brijesh Agrawal of IndiaMART, and other leading industry figures have also participated in the round.

AnKa SumMor Raises INR 11.6 Cr Pre-Series A Led By Inflection Point Ventures

AnKa SumMor

This investment will predominantly go into geographical expansion, building the tech stack critical to managing complexity at scale efficiently and effectively, and enhance predictive capabilities to provide market insights to brand partners. The brand will also invest in increasing infrastructure and resources to increase the number of outlets serviced to deliver growth for brand partners.

 “We are excited to have IPV and angel investors on our cap table. S&D enablement players will play a pivotal role in fuelling the burgeoning Indian retail market which is projected to touch $260 billion in the next 4-5 years. Anka SumMor is poised to redraft the traditional playbook by offering professional S&D solutions to improve the overall value chain and provide protection against risks such as continuity due to attrition, trade spend leakages due to lack of transparency to challenger and new age brands,” said Ashok George, co-founder and chief executive officer, AnKa SumMor Foods Pvt. Ltd.

AnKa SumMor is on a mission to democratize the offline market by re-engineering the conventional FMCG S&D model to transmit similar scale leverage & benefit of legacy brands to challenger / new age brands through a technology-enabled shared ‘Plug & Play’ distribution platform.

“Success of FMCG businesses depends on how well and deep their distribution model is. India is a complex geography and it has taken global FMCG companies decades to cover the entire country by heavily investing in setting the distribution infrastructure. The new age brands don’t have to invest millions in setting up their distribution channel when a company like Anka SuMor can do this for them. A shared distribution network would be mean lower operational costs and better pricing for the consumers. We understand this sector well because of our other investments and were able to align naturally to Anka SuMor’s vision,” explained Vinay Bansal, founder and chief executive officer, Inflection Point Ventures.

Incubated and funded by Fireside Ventures in April 2018, the startup founded by Ashok George and Rajiv Joshi provides emerging, challenger brands like McVities, Wai Wai, Yoga Bar, Yellow Diamond, Bauli, Tru Earth, Om Bhakti, and Paper Boat among others, access to modern trade outlets, supermarkets and specialty stores at half the S&D costs they would have otherwise incurred by doing it on their own.

“’When Fireside started investing in early-stage consumer brands in 2017, we realized that getting products on retail shelves was a huge pain point for SMEs. And this represented a large national business & investment opportunity for us. Ergo we partnered with Ashok and Rajiv to build a professionally run, tech-enabled distribution company specially focused on emerging brands with a vision that would level the playing field both on access to retail shelves and on the cost of access. From those initial beginnings in a Fireside meeting room, the company has come a long way, starting with its Hyderabad operations, then establishing itself in Chennai, and now launching in Bengaluru. We are delighted that they have completed this funding round which will enable them to bring in the full power of technology to deliver on the business vision,” added Kannan Sitaram, partner, Fireside Ventures.

The platform has grown during and post the pandemic by 65 per cent and now has more than 12 brands benefiting from its S&D solutions covering over 8,000 retail outlets across Hyderabad, Chennai, and Bengaluru and plans to exit FY22 covering 23,000 retail outlets with an ARR of INR 60 crore. Over the next 5 years, the startup aims to establish its operations in 15 cities and coverage of 200,000 relevant retail, achieve an operational break-even in FY 2023, and deliver INR 500 crores in annualized revenue in FY 2025.

In April 2021 AnKa SumMor raised INR 3 crore as a part of its pre-Series A round and now with this new additional investment of INR 8.6 crore the round is closed at INR 11.6 crore.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

5 Reasons Why Your Corporate Blog Has Hit a Wall

Corporate blog content creation is a top priority of more than 50% of marketers. And with so many benefits — including the ability to reach, engage and convert prospects — you ... Read more »

5 Tips for Building a Remote-First Business

Almost 42% of U.S. companies were remote throughout 2020 and the number of out-of-the-office workers is set to double within the next five years. Read more »

Clara, the idea that was born from a roasted carnita and became the fastest growing Latin startup

Many of the world’s greatest ideas have emerged from casual conversations between friends. A few years ago Gerry Giacomán attended a roast carnita in his native Monterrey where he met ... Read more »

How Leaders Can Beat the Labor Crisis

By now, we’re all intimately familiar with the ongoing labor crisis, either because of the constant media coverage or because you or your company is feeling the effects first-hand. No ... Read more »

How This Maya Angelou Quote Can Fuel Your Ethos at Work and Beyond

I love Maya Angelou and her work, and these words of hers have become the way I live my life: “I’ve learned that people will forget what you said, people ... Read more »

Why Mental Health is Central to Your Business Continuity Plan

Covid-19 has shown us many things — most importantly, that large-scale, unexpected business disruptions can happen anytime, anywhere. How we prepare for these disruptions sets the course for how businesses ... Read more »

3 Ways to Eliminate Data Biases at Your Company

AI and machine learning are becoming synonymous with business success. Everywhere you look, companies are utilizing data to reach new heights. In spite of its benefits, though, utilizing data analysis ... Read more »

You Need to Make an Important Distinction for Your Small Business

Ultimately, the best customer service any business can offer is to be accommodating. The best customer service is often the result of observing how society is changing and adapting to ... Read more »

How to Build a Self-Publishing Side Hustle on Amazon

When you get to a certain point in your entrepreneurial career, you can start to pivot toward thought leadership. A thought leader is someone who is seen as an expert in ... Read more »

Increased Demand for Immigration to the United States

During times of turmoil, there is a greater urge for people to self-reflect and evaluate their life choices. The lockdowns of the pandemic forced people to spend more time at ... Read more »

7 Instagram Reels Ideas to Better Connect With Your Audience

Launched in August 2020, Instagram Reels has been getting a lot of attention from creators. As a competitor to TikTok, it provides the opportunity to create short and sweet videos ... Read more »

Here is Why Growth Investors Should Buy Focus Financial Partners Inc. (FOCS) Now

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market’s attention and deliver solid returns. But finding a growth stock ... Read more »

Burger King Is Selling Iconic Menu Item for Less Than a Dollar

Those with December birthdays may have to share the spotlight this year with one very favorite sandwich. picture alliance | Getty Images Burger King’s beloved Whopper turns 64 years old ... Read more »

FTI Consulting (FCN) Announces Name of New Senior MD in France

FTI Consulting, Inc.FCN announced the appointment of Karl Payeur as a senior managing director and head of its Forensic and Litigation Consulting and Technology segments in France. – Zacks In ... Read more »

How to Set Expectations and Get the Performance You Want From Your Team

There is one challenge I see rising and experienced entrepreneurs alike consistently face, and that is how to get underachieving employees to perform better to avoid going through the difficult ... Read more »

Blueprint Medicines' (BPMC) Ayvakit Aids Growth Amid Rivalry

Blueprint Medicines Corporation’s BPMC lead drug, Ayvakit (avapritinib), was approved by the FDA for the treatment of adult patients with unresectable or metastatic gastrointestinal stromal tumors (“GIST”), harboring a PDGFRA ... Read more »

3 Reasons Why Chevron (CVX) Is a Great Growth Stock

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market’s attention and deliver solid returns. But finding a growth stock ... Read more »

How Practicing Self-Love Can Help Your Business Reach New Heights

Self-love is crucial for your mental and physical health — and for your business’s health.  At its core, self-love is about fully and unconditionally accepting yourself for who you are and what you ... Read more »

How Success Happened for Harrie Bakst and Sara Weinstein

When Bakst and Weinstein first launched WCPG, their goal was to set up a business focused on impact by serving as an agency to brands looking for counsel and execution ... Read more »

Top Research Reports for Apple, Cisco & Linde

Friday, December 3, 2021 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Apple ... Read more »

Is Lenovo Group Ltd. (LNVGY) a Solid Growth Stock? 3 Reasons to Think " Yes "

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. But finding a growth stock that can ... Read more »

Time to Innovate: Stop Settling for Great and Aim for Phenomenal

Many times in business, in order to embody something new and improved, you need to let go of what you used to represent. I help many businesses reinvent, differentiate and reposition ... Read more »

Don't Waste This Opportunity to Buy These 3 Outperformers

Here’s an unpopular truth when it comes to investing – good investing can be boring at times. While trying to get in early on the next big growth story may ... Read more »

More than $ 100 million worth of metaverse land was sold in one week

Since Facebook announced its switch to Meta and its future plans to create a metaverse, the existing ones have gained popularity. The biggest racked up $ 100 million selling NFTs ... Read more »

Total solar eclipse: Where to see it live

Tonight from December 3 to 4 there will be a total solar eclipse that will be seen in full from Antarctica where teams of scientists will carry out important studies ... Read more »

Why REX (REX) Might be Well Poised for a Surge

Investors might want to bet on REX (REX), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and ... Read more »

Best Value Stocks to Buy for December 3rd

Here are three stocks with buy rank and strong value characteristics for investors to consider today, December 3rd: – Zacks Asbury Automotive Group, Inc. ABG: This automotive retailer has a Zacks ... Read more »

Mark Cuban Just Bought an Entire Town in Texas

Although most billionaires these days are focused on spending their cash on lavish vacation properties and massive space exploration initiatives, others are finding even more extravagant and unorthodox ways to spend ... Read more »

Debt Collectors Can Now Text, Email, and Send Direct Messages to Borrowers on Social Media

Debt collectors can now text, email, and send direct messages to borrowers on social media after new rules approved by the Consumer Financial Protection Bureau (CFPB) took effect on Tuesday. The new rules clarify how debt collectors can use email, text ... Read more »

Playboy will compete with OnlyFans in the Metaverse and rapper Cardi B will be creative director of the project

Following the death of its legendary founder, Hugh Hefner , in September 2017, the adult entertainment firm Playboy entered a process of restructuring and reinvention. In order to take the ... Read more »

Waste Connections (WCN) Benefits From Acquisitions, Debt Ails

Waste Connections, Inc. WCN shares have had an impressive run on the bourses so far this year. The stock has appreciated 32.2% over the past year against the 5.8% decline ... Read more »

Create Brand Loyalty by Humanizing the Digital Experience

You already know that relevant, personalized messaging can make or break your digital marketing campaign. So as we think about cutting through the noise during the increasingly competitive holiday season — where ... Read more »

Looking for a Growth Stock? 3 Reasons Why Axcelis (ACLS) is a Solid Choice

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. But finding a great growth stock is ... Read more »

Why Washington Federal (WAFD) is a Top Dividend Stock for Your Portfolio

All investors love getting big returns from their portfolio, whether it’s through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each ... Read more »

4 Top-Ranked Stocks From a Prospering Electronics Industry

The Zacks Electronics – Semiconductors industry has been benefiting from the solid adoption of laptops, notebooks, office equipment and network peripherals worldwide. Increasing demand for high-volume consumer electronic devices such ... Read more »

Elon Musk Sells Another $1 Billion Of Tesla Shares

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), has shed another 934,091 shares of the electric vehicle maker worth $1.01 billion this week. The operation took place to comply with Musk’s ... Read more »

3 Reasons Why Growth Investors Shouldn't Overlook Newtek (NEWT)

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. However, it isn’t easy to find a ... Read more »

Elon Musk replies to a tweet about web 3.0 saying it sounds like "crap"

The term web 3.0 is one that has been getting around a lot lately. It refers to the evolution that many believe the Internet will have, including features such as ... Read more »

6 Cyber Week Savings on Apps for Writers

Modern business needs modern technology. There is no shortage of great apps out there to help businesses, but not all are exactly affordable or accessible. If you’re a copywriter or ... Read more »

Rocket Lab announces the construction of Neutron, a reusable rocket that will become the competition of SpaceX and Blue Origin

The American company founded by Peter Beck spoke about the details of its new rocket, Neutron , in a presentation broadcast live on YouTube. This will aim to put satellites ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic