ETtechAksum Trademart, a business-to-business (B2B) startup into raw material supply to MSMEs, plans to raise $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 investments into technology. As per the growth milestones, we are looking to raise $25 million over the next 12 months," Aksum Trademart co-founder Sumit Bhatia said.
Bhatia said that the advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility, and better asset management.
On the debt front, he said, the company has recently closed a factoring limit of Rs 2.4 crore with an NBFC to scale up business operations. More such partnerships with other NBFCs and banks are in discussion.
"We plan to raise phase-wise capital in line with our growth milestones and for making investments into technology. As per the growth milestones, we are looking to raise $25 million over the next 12 months," Aksum Trademart co-founder Sumit Bhatia said.
The company is discussing with early-stage investors and family offices to meet the capital requirements, the other co-founder Ankit Jain said, adding that the future digital supply chain will require the companies to outsource, that is, to leverage Supply Chain as a Service (SCaaS).
Bhatia said that the advantages include end-to-end connectivity, improved productivity, lower cost, heightened flexibility, and better asset management.
On the debt front, he said, the company has recently closed a factoring limit of Rs 2.4 crore with an NBFC to scale up business operations. More such partnerships with other NBFCs and banks are in discussion.
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