Aksum Trademart plans to raise $25 million to fund growth

“We plan to raise phase-wise capital in line with our growth milestones and for making investments into technology. As per the growth milestones, we are looking to raise $25 million over the next 12 months,” Aksum Trademart co-founder Sumit Bhatia said.

The company is discussing with early-stage investors and family offices to meet the capital requirements, the other co-founder Ankit Jain said, adding that the future digital supply chain will require the companies to outsource, that is, to leverage Supply Chain as a Service (SCaaS).

Bhatia said that the advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility, and better asset management.

On the debt front, he said, the company has recently closed a factoring limit of Rs 2.4 crore with an NBFC to scale up business operations. More such partnerships with other NBFCs and banks are in discussion.

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In seven months, Bhatia said the company has been able to foster relationships with companies like L&T, and Tata Projects and supplied more than 200 Stock keeping units spread across categories like steel, coal, tiles, paint, polymer and chemicals to customers.