MSME focussed platform Lal10 raises $5.5 million in Pre-Series A funding led by Yuj Ventures, others
- ByStartupStory | July 19, 2022
Lal10, a wholesale cross-border platform for Indian artisans to sell their goods, has raised $ 5.5 million in a pre-series A funding round led by Yuj Ventures, Beyond Capital Ventures.
The fresh funds will be utilized to expand aggressively in the global market across the US, Japan and Middle East, said Lal10 in a press release. It will expand its tech-based supply chain solutions to buyers and technology innovation for MSMEs, empowering them with design to digitisation to the global wholesale discovery. The company also aims to reach a $100 million run rate in the next 12 months focusing on the home textile category.
“Lall0 is building technologies for the next craft revolution. As a brand, we intend to digitize the entire craft industry in India and prepare them for global wholesale,” said Manet Gohil, its chief executive.
According to Lal10, the B2B rural-sourcing market is large, highly disorganized, and geographically disaggregated. Still, with the advent of inexpensive, ubiquitous internet and smartphones across even the rural corners of India, this sector is ripe for disruption.
About Lal10:
Founded in 2017 by Manet Gohil, SanchitGovil, and Albin Jose, Lal10 is a tech-enabledfull-stack platform for craft-based MSMEswith over 2,200 craft MSM Es using theapplication to digitize their inventories forglobal wholesale and become skilled with contemporary design trends as well assource raw materials directly from factories.
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