MyMandi, a business-to-business marketplace, has acquired Rs 10 crore through compulsory convertible debentures (CCD) led by Real Time Angel Fund, an angel fund that is registered with SEBI.
According to a press release from MyMandi, the funds will be used to diversify its product line, advance its technological foundation, and broaden its customer base.
MyMandi, a B2B supply chain network for retailers in tier II and beyond cities, was founded in 2022 by Mahanaryaman Scindia and Suryansh Rana. It offers a one-stop shop and other integrated business solutions. Through warehousing, logistics, and financial services, the startup seeks to bridge the gap between regional suppliers and retailers. Its goal is to redesign the hyperlocal supply chain by empowering local mandis.
By the end of this fiscal year, the Gwalior-based company hopes to have onboarded 5,000 retailers in addition to its association with more than 3,000 small retailers and cart-pullers.
Sector-neutral Real Time Angel Fund concentrates on industries like consumer technology, green energy, health tech, fintech, and green energy. To help startups grow faster, it offers funding, mentoring, and operational assistance.
