B2B e-commerce platform Wholesalebox has raised and an undisclosed amount from Rajasthan Venture Capital Fund (RVCF). Other existing partners including Orios Venture Partners and Contrarian Drishti Partners also participated in the funding round, as told by RVCF. The funds raised will be used to expand its operations to new markets across the country.
Wholesalebox was co-founded by Rohit Dangayach, a former executive at CarDekho, along with Chandan Agarwal, Rakesh Shekhawat, and Madhur Maheshwari in 2015. Wholesalebox is an online marketplace connecting manufacturers and wholesalers directly to the retailers, providing the retailers with more choices of products that can be ordered online and delivered straight to their doorsteps.
It aims to empower the retailers with technology to help them cut costs, save time, increase revenue and improve their customer experience, with the help of technology solutions using data analytics. The company is currently operational in Gujarat and Rajasthan with plans for expanding operations.
“There is a huge opportunity in terms of business growth using technology in the highly unorganized and fragmented wholesale apparel market,”, said K Ganapathy Subramanian, chief executive of RVCF.
RCVF, managed by Rajasthan Asset Management Co. Pvt. Ltd invests in seed, early, and mid-stage companies. Currently investing out of its third fund, it is focused on industries in healthcare, food processing, logistics, IT/ITES, and education sectors.
Among its popular investments include Yatra.com, India’s leading online travel agent. It has also invested in companies like Mosambee, comprehensive payments solution company, Aujas, a global risk management service company, along with Nextender, next-generation e-procurement solutions company.
In another recent news, RCV has invested in the Jaipur-based Wooden Street, an online custom furniture store.