B2B eCommerce portal, Shotang has raised about $5 Million in a fresh round of funding from Exfinity Venture Partners and Unitus Impact. The company will use the fund to improve its technology and strengthening its operations. The company had also raised unspecified sum in seed round of funding from Bitchemy Ventures.
Shotang is a Bangalore based Business to Business startup that connects manufacturers, retailers and distributors via its app based platform to fulfill their sourcing requirements. The startup was started by Anter Virk and Anish Basu Roy back in 2013. As of now, the startup has more than 130 companies and 50,000 resellers across India.
The platform allows retailers to place orders and make payments to all their sellers through one single platform. The company has its own supply chain and bike delivery boys, who deliver orders to the retailers after the competition of the transaction.
The co-founder and Chef enabling officer of Shotang, Anish Basu Roy said, “Our primary categories are mobiles and apparel we work on commissions paid by distributors per transaction. We treat retailers as our customer base and currently have 3,000 of them transacting every week,”
Shotang is aiming to introduce other ten to fifteen categories in near future. It will also provide data insights to manufacturers and suppliers on their stocking requirements.