This 20-YO from Odisha did not attend college and started a B2B SaaS startup for Kirana owners - raised $1.3M in funding; looking at $10 million revenue rate next year.

Founded in September 2022, Soptle is a B2B SaaS-led retail commerce startup based in Gurugram, Haryana. 

Led by its visionary founder, Pravas Chandragiri, Soptle aims to revolutionise the FMCG industry in India by addressing the challenges faced by small-scale Kirana store owners.

Pravas Chandragiri is a name that has been making waves in the startup community of India. He comes from Balasore, Odisha. 

After completing his schooling at RK Secondary High School, he decided not to pursue the traditional, conventional path of attending college. He wanted to become an entrepreneur.

Empowering Kirana Store Owners

Having gained firsthand experience working at Kirana stores in Balasore, Pravas Chandragiri recognised the multitude of problems faced by small-scale retailers in their day-to-day operations. 

From supply chain management to timely procurement of goods, these challenges hindered the growth and efficiency of Kirana stores. 

Motivated to make a difference, Pravas, at the young age of 19, founded Soptle with a vision to empower millions of Kirana store owners across the country.

Vision: Revolutionizing the FMCG Industry

The startup operates as a marketplace platform, bridging the gap between FMCG manufacturers and retailers. Leveraging their B2B Retail Commerce App, Soptle harnesses the power of technology and data to streamline the distribution process. The startup's integrated technological solution aims to bring efficiency and transparency to the FMCG supply chain.

Transformative Solutions

Vertical Digitization Services: Soptle's Connect Platform empowers manufacturers by digitising their operations. It assists in managing day-to-day activities, from procurement to distribution, at scale. Through the platform, manufacturers gain better control and visibility over their operations.

Geographical Expansion Opportunities: Soptle enables manufacturers to extend their reach by providing access to countrywide distribution through existing tech-enabled Sales and Distribution (S&D) channels. By leveraging Soptle's market linkages, manufacturers can serve retailers in different geographical locations efficiently.

Finance Support: Soptle offers Fintech support, including secured purchase financing and bill discounting, to facilitate smooth transactions between key stakeholders in the supply chain. This financial assistance strengthens the overall ecosystem and encourages growth.

Growth and Funding

With its innovative solutions and customer-centric approach, Soptle has experienced rapid growth. 

Currently, there are over 120 manufacturers and 1 lakh retailers on its platform.

The startup has raised a total of $1.3M across three funding rounds. In its most recent funding round, Soptle has garnered significant attention from prominent investors, including Kube VC, We Founder Circle, Iceland Venture Studio (IVS), and Nyra Ventures. 

Notably, the round also saw participation from the founders of esteemed companies like Dunzo, Jar, and Bijak, as well as the Managing Partner of Rocketship.vc. Additionally, existing investors Kube VC and Ankur Agarwal, the founder of Dunzo, continued to support Soptle by participating in this funding round.

This funding provides Soptle with the necessary resources to continue its expansion and development efforts.

Future Outlook

Looking ahead, Soptle aims to achieve a revenue rate of $10 million by the first quarter of the upcoming year. 

The startup envisions expanding its network of retail outlets on the platform to over 2 lakhs, further strengthening its position in the retail commerce space. By leveraging technology and data-driven strategies, Soptle strives to create a seamless and efficient ecosystem for manufacturers and retailers.

Soptle's journey from its humble beginnings to becoming a game-changer in the FMCG industry showcases the power of innovation and determination. More so, it challenges the idea that conventional education is the only way to move forward and create an impact in society.

FAQ

1. What is Soptle, and when was it founded?

Soptle is a B2B SaaS-led retail commerce startup founded in September 2022

2. Who is the founder of Soptle?

The visionary founder of Soptle is Pravas Chandragiri. Pravas Chandragiri comes from Balasore, Odisha. He was inspired to start Soptle after recognizing the challenges faced by small-scale Kirana store owners.

3. How does Soptle operate, and what is its vision?

Soptle operates as a marketplace platform, bridging the gap between FMCG manufacturers and retailers, with a vision to revolutionize the FMCG industry.

4. How many manufacturers and retailers are currently on Soptle's platform?

Currently, there are over 120 manufacturers and 1 lakh retailers on Soptle's platform.

5. How much funding has Soptle raised?

Soptle has raised a total of $1.3M across three funding rounds, with prominent investors including Kube VC, We Founder Circle, Iceland Venture Studio (IVS), and Nyra Ventures.

6. What is Soptle's future revenue target and expansion plan?

Soptle aims to achieve a revenue rate of $10 million by the first quarter of the upcoming year and envisions expanding its network of retail outlets to over 2 lakhs.

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