Jaipur-based business to business online platforms Wholesalebox raised as much as 2 million USD i.e. Rs. 13 crores in a Pre-Series A round funding through the help of angel as well as institutional investors. Apart from the existing and new angel investors, Contrarian Vridhi Fund and Manish Maheshwari, CEO of Network 18 Digital were among the investors who participated in the fundraising event.
The following fundraising will help wholesale e-commerce firm to help in expanding its business into new segments as well as enhance its technology for better responses. The company focuses in traditional wholesalers and traders in the unbranded fashion and lifestyle sector so that operations in the market increasesalong with improve the seller and buyer experiences. The online seller of ladies wear, jewellery, and home furnishing products in bulk provide other traders to buy products at factory price.
Established in 2015 by IIT and IIM alumni Wholesalebox.in helps aggregate online seller of ladies wear, jewellery, and home furnishing products in bulk subsequently providing other traders to buy products at factory price. It also gives a potential measure to buy goods for resale thus allowing them to transact directly with the manufacturers from across the nation. It aggregates and flourishes its business through the help of technology, be it small or medium manufacturers scale where they provide Pan India sales channel eventually avoiding the prolonged process of traditional hassles of logistics, limited choice, negotiation, credit and quality validation, and so on.
According to one of the co-founders and CEO of Wholesalebox.in Rohit Dangayach,The main objective is to provide doorstep delivery to retailers along with better choice while reducing their landing cost by 25%… We strongly believe that retailers should be able to focus more on their customers to help them have a better experience.
The company, at present, has more than 350 manufacturers along with near about 16,000 retailers who are registered and work distinctively for the startup all over the country. After the respective fundraising event, it would be able to bridge a gap between firm and retailer hence help them serve better in shelf space requirements for the domain it runs.
The respective firm Wholesalebox has partnered with logistics like FedEx, GATI Kwe, Blue Dart, DTDC, etc for appropriate deliveries to the retail chains as the adjoined manufacturers and retailer can make payment through Net Banking, COD, VISA, Master card, RuPay, and so on.