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Indian Angel Network leads USD 3 million investment in B2B startup MaxWholesale
It competes with companies such as ShopKirana, Jumbotail, Udaan, and Amazon.
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The company’s gross margin in India increased from 10.6% in FY18 to 14.7% in FY19.
Vedantu provides live interactive classes and claims to have 100,000 paid subscribers.
Shunwei Capital has also invested in rival Meesho, another social commerce startup in India.
Both e-commerce sites are going through a supply crunch.
Swiggy has partnered with 95 restaurants in 13 cities and has already set up 100 brands under its new BrandWorks cloud kitchen tag.
The company will use the money to expand its operations in the United States and Europe.
An array of technology companies from different sectors have begun to partner with kirana stores.
A B2B payment gateway company, Cashfree provides services like money collection, wage disbursement, and instant refunds.