AnKa SumMor, a sales and distribution platform for the FMCG sector has raised INR 3 cr in a pre-series led by Inflection Point Ventures. The funds raised will be utilised towards scaling business in Hyderabad and Chennai with improved infrastructure, coverage, and branding. The funds will also be used for expanding operations to Bangalore, along with technology development and deployment.
On a journey to disrupt FMCG sales and distribution for emerging brands, AnKa SumMor had launched SumMor Model in 2018 which has added value for brand partners with increased revenue. This has triggered the operations of the startup to a higher level, venturing into Chennai and plans to launch Bangalore in FY 21-22.
Vinay Bansal, Founder and CEO, IPV said, “Success of FMCG businesses depends on how well and deep their distribution model is. India is a complex geography and it has taken global FMCG companies decades to cover the entire country by heavily investing in setting the distribution infrastructure.”
“A shared distribution network would mean lower operational costs and better pricing for the consumers. We understand this sector well because of our other investments and were able to align naturally to Anka SuMor’s vision,” added Bansal.
Ashok George, Founder and CEO, AnKa SumMor said, “Delighted to make through the rigorous evaluation process of IPV, importantly the value given to founders during the process. This investment will predominantly go into building the tech stack, critical to manage complexity at scale efficiently, enhance predictive capabilities and provide market insights to brand partners.”
