Soptle raises angel investment from Kube VC, Soonicorn among others

A clutch of industry veterans such as Vaishnav Shetty, executive director of All-Cargo Group, Pirojshaw Sarkari, CEO of Gati, Ankur Agarwal, co-founder of Dunzo, Saurabh Aggarwal, co-founder of Fitso, Himanshu Periwal, co-founder of Unlu, and others also participated in the round.

Launched in May 2022, by 19-year old engineering school dropout Pravas Chandragiri, Soptle Is a micro SaaS-led B2B retail commerce platform that helps consumer goods companies distribute products by using its network.

“This is just day one for us. We have empowered over 45,000 retailers and manufacturers in just six months of launch and have seen a consistent 3 times month-on-month growth for the last six months. Being backed by top industry veterans gives us a sense that we are heading in the right direction,” said Chandragiri.
The startup enables FMCG manufacturers to increase their income by up to 10 times by providing access to country-wide distributions at zero fixed cost. Similarly, it allows retailers to access products with 3-4 times higher margins than average, along with finance to grow their business.

The funds would be utilised for growing 100 times in the next two years, expanding its team and further enhancing its product and technology, the company said. In August, the startup had raised an undisclosed amount in an angel round led by Soonicorn LLP and a clutch of marquee logistics leaders.

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“Soptle is truly revolutionising the manufacturer and retailer ecosystem. Its tech-enabled sales and distributions channel-cum-market linkage helps manufacturers expand their business geographically at no fixed cost, improve their capacity utilisation and improve their net margins by three-four times,” Faiz Mayalakkara, Designated Partner, Kube VC, said.

At 17 years, Chandragiri became the youngest CEO of a networking platform – RFT (Rural Future Technology)– that connected 1,200 mom-and-pop stores across nine districts of Eastern India. Two years later, he launched Soptle with an ambition to democratise the $500 billion FMCG industry. The firm’s annual recurring revenue has grown to cross $2 million.