B2B supply chain startup AnKa SumMor raised Rs 11.6 Cr in Pre-Series A led by Inflection Point Ventu
B2B supply chain startup AnKa SumMor raised INR 11.6 Cr in Pre-Series A led by Inflection Point Ventures, where Pratul Shroff from Waao Partners and Brijesh Agrawal, cofounder and director, IndiaMART, also participated
AnKa SumMor provides ‘challenger’ brands access to conventional FMCG distribution outlets including trade outlets, supermarkets and specialty stores at lower costs, having customers like McVities, Wai Wai, Yoga Bar, Yellow Diamond, Bauli, Tru Earth, Om Bhakti & Paper Boat among others.
The ‘SumMor model’ consolidates and aggregates CFAs (Carry and Forwarding Agents), super stockists and multi-channel distributors under one platform. The startup gives brands reach and presence while also allowing them to monitor outlet level sales data in real time. It earns revenues from the margin on retail sales.
“The Indian retail industry is very fragmented,” said Ashok George, CEO and cofounder of AnKa SumMor, in an interview with Inc42. “Distributors also act as financiers and infrastructure providers. Attrition is very high, and the whole process is very inefficient. With AnKa SumMor, we are trying to consolidate the distribution network,” he added.
The startup’s solutions cover 8,000 retail stores across Hyderabad, Chennai and Bengaluru and will end the financial year with an annual recurring revenue of INR 60 Cr, it claimed. The startup also plans to operationally break even in FY2023 and deliver INR 500 Cr in annual revenue by FY2025.
According to George, the company will also branch into leveraging AI and machine learning technologies to create recommendation engines for both brands and retailers.