ShopX raised funds from Fung Group’s MD & others

eCommerce platform for small retailers ShopX raised Rs 10.68 crore from existing investor Fung Capital’s managing director, his wife & former Chairman of Crompton Greaves. ShopX is a B2B e-commerce platform that weeds out the challenges pertaining to sales and inventory management for small retailers in tier II and III cities. It also launched a full-stack app SupplyX which let brands, wholesalers, retailers and distributors to track their sales and inventory. Claims to achieve an annual GMV of $900 million as of Dec'19 and achieve profitability on the unit economics level. ShopX also acquihired omnichannel mobile phone retail brand GabbarDeals in February 2019 and rebranded as ShopX Edge.

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