AnKa SumMor, a sales and Distribution (S&D) platform for FMCG has raised Rs 3 crore in pre-Series A round funding led by Inflection Point Ventures.
“The funds raised will be utilized towards scaling the business in Hyderabad and Chennai with improved infrastructure, coverage, and branding, as well as for expanding its operations in Bangalore, along with technology development and deployment,” Anka SumMor in its statement said.
Speaking on the funding, Vinay Bansal, Founder & CEO, IPV said, “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 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.”
Commenting on the investment, Ashok George, Founder & CEO, Anka SumMor said, “Delighted to make through the rigorous evaluation process of IPV, importantly the value given to founders during the process. Apart from the investment, IPV augments value through an ecosystem of business leaders across various aspects of business, which we intend to leverage to expand and enhance our thinking, capabilities, and execution levels, thereby creating value for all our stakeholders.”
“This investment will predominantly go into building the tech stack, critical to managing complexity at scale efficiently & effectively, enhance predictive capabilities and provide market insights to brand partners. We will also invest in increasing S&D infrastructure and resources to increase the number of outlets serviced to deliver growth for existing brand partners, and capacity to add more brands on our platform,” the statement added.