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.