Indian online marketplace Wogom, specializing in consumer electronics and mobile phone categories for distributors and retailers, has successfully secured $1.9 million in funding from a consortium of angel investors and family offices.
The funding was secured in two phases, with $600,000 received a few months ago and an additional $1.3 million injection recently.
Speaking on the funding round, Nirav Patel, Founder & CEO, of WOGOM, said, “We are truly delighted at the confidence expressed by leading entrepreneurs who have successfully built sized companies in different areas through their investment in Wogom. Family office investing further validates the business model and the unique challenge we are trying to solve that benefits the entire ecosystem. The team is truly inspired by their vote of confidence and looks forward to scaling the venture in the months to come.”
The funds raised will be deployed strategically to support several key aspects of Wogom’s growth strategy these include expanding the platform’s market presence beyond Gujarat, substantial investments in technology to ensure that the platform remains cutting-edge, bolstering retailer financing options, and enhancing logistics capabilities to accommodate additional product categories.
