Post transaction, the Chandigarh-based platform Pumpkart has touched valuation of $9.87 million (approx INR 70 crore).
Pumpkart was founded by KS Bhatia in 2014. The platform Pumpkart’s inception was as a business to consumer marketplace for water pumps but later ventured into the B2B model for appliances and electrical products.
As per its LinkedIn page, the platform Pumpkart has been designed to provide a single forum for small and medium enterprises (SME) to connect with manufacturers, importers and distributors in India.
KS Bhatia, founder at Pumpkart said that its medium-term goals are to capture the retailer market in North India and for that, the company has signed an initial pact with the Himachal Pradesh government.
Under the collaboration, the Himachal Pradesh government will help Pumpkart open service centres in the state for micro, small and medium-sized enterprises.