MaxWholesale B2B Ecommerce Platform raises $3 Mn in Series A funding

MaxWholesale, a B2B ecommerce platform for kirana stores has registered a 10x growth in its top line since January 2020. “Max has seen tremendous growth in both pre and post lockdown. In terms of the top line, the average growth has been 35% month on month in the last nine months,” Samarth Agrawal, CEO, and cofounder of MaxWholesale .

MaxWholesale was founded in April 2016 by Samarth Agrawal (IIT Delhi alumni and Columbia University) and Rohit Narang. Owned by 99 Algorithms Pvt. Ltd, the startup acts as a medium between retail store owners and large companies. Through this platform, sellers can buy inventory for their stores.

The company has onboarded more than 25,000 retailers since its inception and the number continues to grow by about 10% to 15% every month, Agrawal said. “We have achieved 100% growth in FY20 and in FY21, we expect a whopping 1500% growth,” he added.

Earlier this year, MaxWholesale had raised $3 Mn in a Series A funding round led by Indian Angel Network (IAN) Fund I and Abu Dhabi-based private family office Al Falaj Investment Company (AFI).

With the help of proprietary technology for managing end-to-end automation of distribution, MaxWholesale claims to manage the real-time inventory of more than 7K grocery stock-keeping units (SKUs) in each warehouse.

“During the pandemic, there was a huge demand for dependable supply chain systems. With the multi-inventory management system in place, we managed inventory in multiple locations in real-time,”.

Source: https://inc42.com/