B2B startup Aksum Trademart plans to raise US $25 million to fund growth
The advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility and better asset management, Co-founder Bhatia said.
Aksum Trademart, a business-to-business (B2B) startup into raw material supply to MSMEs, plans to raise USD 25 million (about Rs 199 crore) from investors to fund its expansion plans.
The company has hired a boutique investment banking firm to help raise capital.
"We plan to raise phase-wise capital in line with our growth milestones and for making investment into technology. As per the growth milestones we are looking to raise USD 25 million over the next 12 months," Aksum Trademart co-founder Sumit Bhatia said.
The company is in discussion with early stage investors and family offices to meet the capital requirements, the other co-founder Ankit Jain said, adding that the digital supply chain of the future will require the companies to outsource, that is, to leverage Supply Chain as a Service (SCaaS).
The advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility and better asset management, Bhatia said.
On the debt front, he said, the company has recently closed a factoring limit of Rs 2.4 crore with a NBFC to scale up business operations. More such partnerships with other NBFCs and banks are in discussion.
In a short span of seven months, Bhatia said the company has been able to foster relationships with companies like L&T, Jindal Stainless and Tata Projects and supplied more than 200 Stock keeping units spread across categories like steel, coal, tiles, paint, polymer and chemicals to customers.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
08:42 AM IST