India: Online B2B marketplace Shotang raises $5m from Exfinity Venture, Unitus Impact

B2B e-commerce marketplace Shotang has raised $5 million (Rs 33 crore) in a series A round of funding from Exfinity Venture Partners and Unitus Impact Livelihoods Fund, according to a statement.

The Bengaluru-based startup will use the funds to grow its team, expand into the top 10 cities in the country and to strengthen its core technology infrastructure over the next one year.

Shotang, run by Sabonka Technologies Pvt Ltd, is an online marketplace for retailers, distributors and manufacturers to help them manage businesses better.

“We believe we are poised to lend disruptive growth and efficiency to the traditional distribution channels, which comprise 15 million retailers, over 100 thousand distributors and nearly 20,000 manufacturers. This will lead to the creation of a truly omni-channel ecosystem,” said Anterpreet Singh, co-founder of Shotang.

Currently, the company has presence in two metros and claims to have nearly 3,000 retailers transacting on its platform every week. In the last six months, Shotang has sold goods worth over $6 million, the statement added.

Shotang was founded by Singh, Anish Basu Roy and Vishal BG in 2013, who have worked with consumer brands including Nokia, Coca Cola and Britannia across various emerging economies.

Also Read: India’s B2B industrial goods marketplace Bizongo secures seed funding from Accel Partners

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.