FMCG startup AnKa SumMor has secured Rs 3 crore in pre-Series A round led by IPV – Inflection Point Ventures. The startup will utilize the fresh funds raised to expand its operations in Bangalore, as well as to develop and deploy its tech.
Co-founder and CEO of AnKa SumMor – Ashok George, said, “We are excited to be a part of an angel platform which will give us access to business leaders in tech and FMCG that will enhance our capabilities and add value for all the stakeholders. We intend to deploy this investment into building a tech stack, increasing S&D infrastructure and resources.”
Speaking on the startup, Vinay Bansal, founder and CEO of IPV, said, “The distribution model of AnKa SumMor is well structured with respect to various factors for a complex geography like India which comes with huge infrastructure costs for brands building it from scratch. The cost savings, specially in the case of emerging brands, can be put into growing their business rapidly. The proficient model along with an experienced team helped us believe in their goals as this not only helps them grow but also helps their clients grow with decreased operational costs and increased productivity.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.