The B2B marketplace MyMandi has successfully raised INR 10 crore in funding via compulsory convertible debentures (CCD), with Real Time Angel Fund taking the lead as the SEBI-registered angel fund investor.
According to a press release from MyMandi, the funds will be utilized for expanding its product offerings, upgrading its technological infrastructure, and extending its market reach.
Established in 2022 by Mahanaryaman Scindia and Suryansh Rana, MyMandi is a B2B supply chain network catering to retailers in tier II and beyond cities. It serves as a comprehensive one-stop-shop and offers integrated business solutions. The startup’s mission is to bridge the gap between local suppliers and retailers by offering warehousing, logistics, and financial services. Through its efforts to empower local mandis, MyMandi seeks to revolutionize the hyperlocal supply chain.
The Gwalior-based company has forged partnerships with over 3,000 cart-pullers and small retailers, with ambitions to onboard an additional 5,000 retailers by the close of this fiscal year.
Real Time Angel Fund operates as a sector-agnostic fund, with a particular emphasis on industries like health tech, fintech, green energy, artificial intelligence, and consumer technology. The fund offers startups not only capital but also mentorship and operational assistance, all geared towards expediting their growth journey.