Gurugram: Soptle, a prominent technology platform that assists manufacturers in expanding their businesses, has announced that it has accomplished the impressive feat of bringing on board 100,000 retailers and 120 manufacturers onto its platform, resulting in a 10-fold increase in revenue.
This feat was achieved within the first year of its inception through swift expansion, a growing demand for effective supply chain solutions, strategic partnerships, and innovation.
Founded by a 20-year-old entrepreneur, Pravas Chandragiri, in May 2022, Soptle is a micro SaaS-based B2B retail commerce platform that enables fast-moving consumer goods and retail companies to distribute their products using its network. Soptle fulfills a significant market need by providing a seamless and efficient solution for retailers to connect with manufacturers and optimize their supply chain processes.
The company is backed by investors including Kube VC, We Founder Circle, Iceland Venture Studio (IVS), Nyra Ventures and founders of Dunzo, Jar, amongst others.
Soptle fulfills a significant market need by offering retailers a smooth and efficient solution to connect with manufacturers and streamline their supply chain processes.
Talking about upcoming plans for the next 12 months, Pravas Chandragiri stated, “Our goal is to further expand our network of retailers and onboard additional manufacturers, resulting in a greater variety and availability of products on our platform. We expect to hit a $10 million revenue rate by the first quarter next year and reach the retail network to two lakh outlets.”
Since its inception, the company has raised approximately $1.5 million and plans to increase its investment in technology to enhance user experience, optimize supply chain processes, and introduce innovative features for retailers.
Soptle is a Gurugram-based startup that aims to become a one-stop marketplace for the FMCG community. Its platform is designed to help boost value realisation and income for both retailers and manufacturers. While most of the retailers on the platform are currently located in the north and central parts of India, including Delhi, Uttar Pradesh, Madhya Pradesh, and Rajasthan, the company has plans to expand into new markets.
As it expands, Soptle aims to provide a range of services and tools for FMCG retailers, including inventory management, sales data analysis, and marketing support. By connecting retailers with manufacturers, the platform aims to streamline the supply chain and help both parties increase their profitability.
By offering nationwide distribution at no fixed cost, the startup empowers FMCG manufacturers to boost their earnings up to tenfold. Additionally, retailers can leverage the platform to access products with margins that are 3-4 times higher than the industry average, as well as receive financing to expand their operations.
