FMCG sales and distribution startup AnKa SumMor has raised Rs 3 crore in a pre-Series A round led by early-stage investing platform, Inflection Point Ventures (IPV). It is the 12th announcement by IPV since Jan 2021.
AnKa SumMor works with FMCG brands to help them scale up their businesses rapidly. Funds raised will be used for scaling the business in Hyderabad and Chennai with improved infra, coverage, and branding.
The FMCG startup will use the funds for expanding operations in Bangalore, along with tech development and deployment. AnKa SumMor was launched in 2018 with an aim to disrupt FMCG S&D for emerging brands.
Ashok George, co-founder CEO, AnKa SumMor, said, “We are excited to be a part of an angel platform which will give us access to business leaders in tech and FMCG that will enhance our capabilities and add value for all the stakeholders. We intend to deploy this investment into building a tech stack, increasing S&D infrastructure and resources.”
Tech stack is critical to managing complexity at scale efficiently & effectively, enhance predictive capabilities and provide market insights to brand partners, said George.
The startup serves all retail channels and acts as a SPOC across retail formats — national chains, e-comm, local chains, stand-alone supermarkets, and Kirana.
The SumMor model provides structured data leading to market insights for the brands resulting in up to 50% S&D cost reductions for the brands.
The fast growth exhibited by AnKa SumMor has enabled the company to launch its operations in Chennai. They are expected to roll out in Bangalore in this financial year.
AnKa SumMor has covered over 2600 retail formats (formats mentioned above) and is working with brands like McVities, Yoga Bar, Wai Wai, Paper Boat, Yellow Diamond, Bombay Shaving Company, Spice Story, Budweiser, Om Bhakti, Again Drinks.
“The distribution model of AnKa SumMor is well structured with respect to various factors for complex geography like India which comes with huge infrastructure costs for brands building it from scratch. The cost savings, especially in the case of emerging brands, can be put into growing their business rapidly. The proficient model along with an experienced team helped us believe in their goals as this not only helps them grow but also helps their clients grow with decreased operational costs and increased productivity,” said Vinay Bansal, founder, and CEO, IPV.
The company has helped its customers increase revenues, reduce S&D costs, and also provides them with real-time MIS. It is the only plug n play S&D platform for the challenger and emerging FMCG brands acting as a one-stop solution for their S&D requirements, said the company.
The FMCG industry is the fourth largest sector in India and is expected to reach $260 billion by 2025 with emerging brands growing 2 to 3 times the rate of established brands.