B2B commerce firm Soptle expects $10 million in revenue by early 2023

Launched in May 2022, by 20-year-old engineering school dropout Pravas Chandragiri, Soptle is a micro SaaS-led B2B retail commerce platform that helps consumer goods companies distribute products by using its network. At present, it has an ARR of $2 million and a retail presence of nearly 50,000 stores.

“With more retailers, the manufacturers will start seeing more value to get onboarded for direct access to distribution. This will lead to a higher FMCG selection of products and will eventually lead to making the customer experience better,” said Chandragiri.

“We will re-invest our profits into developing a better network of Soptle distribution partners and enable them with advanced technology and solutions. This leads to lower cost structure and lower prices, as well as offers faster and reliable distribution network, and thus further improves customer experience.”

The startup enables FMCG manufacturers to increase their income by up to 10 times by providing access to country-wide distributions at zero fixed cost. Similarly, it allows retailers to access products with 3-4 times higher margins than average, along with finance to grow their business.

The company said it wants to create the largest standalone distribution network of 2000 manufacturers impacting more than 25 lakhs retail partners in the next three years.

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“We are going to launch our own fintech services by mid-2023 to facilitate supply chain financing and bill discounting services to our best-seller manufacturers and also enable credit availability to retail partners,” added Chandragiri.
In August, the startup had raised an undisclosed amount in an angel round led by Soonicorn LLP and a clutch of marquee logistics leaders.

Last month, it raised $300k in an angel round led by global early-stage venture firm Kube VC and Soonicorn LLP. A clutch of industry veterans such as Vaishnav Shetty, executive director of All-Cargo Group, Pirojshaw Sarkari, CEO of Gati, Ankur Agarwal, co-founder of Dunzo, Saurabh Aggarwal, co-founder of Fitso, Himanshu Periwal, co-founder of Unlu, and others also participated in the round.

At 17 years, Chandragiri became the youngest CEO of a networking platform – RFT (Rural Future Technology)– that connected 1,200 mom-and-pop stores across nine districts of Eastern India. Two years later, he launched Soptle to democratise the $500 billion FMCG industry.