Soptle Empowers 100,000 Retailers and 120 Manufacturers, Achieves 10-Fold Revenue Increase in First Year
- ByStartupStory | June 17, 2023
Gurugram-based technology platform, Soptle, has achieved an impressive feat in its first year of inception by successfully bringing onboard 100,000 retailers and 120 manufacturers onto its platform. This milestone has resulted in a significant 10-fold increase in revenue for the company. Founded by 20-year-old entrepreneur Pravas Chandragiri, Soptle offers a micro SaaS-based B2B retail commerce platform that streamlines supply chain processes and connects fast-moving consumer goods and retail companies.
Through rapid expansion, strategic partnerships, and innovative solutions, Soptle has quickly become a prominent player in the industry. The platform fulfills a crucial market need by providing a seamless and efficient solution for retailers to connect with manufacturers and optimize their supply chain processes. Backed by investors such as Kube VC, We Founder Circle, Iceland Venture Studio (IVS), Nyra Ventures, and founders of Dunzo and Jar, Soptle has garnered significant support and recognition.
Pravas Chandragiri, the Founder of Soptle, expressed excitement about the company’s achievements and shared future plans, stating, “Our goal is to further expand our network of retailers and onboard additional manufacturers, resulting in a greater variety and availability of products on our platform. We expect to hit a $10 million revenue rate by the first quarter next year and reach the retail network to two lakh outlets.”
With approximately $1.5 million raised in funding, Soptle plans to allocate resources to enhance user experience, optimize supply chain processes, and introduce innovative features for retailers. The company envisions becoming a comprehensive marketplace for the FMCG community, aiming to boost value realization and provide a seamless platform for retailers and manufacturers to thrive.
Soptle’s remarkable growth within a short period underscores its commitment to revolutionizing the retail industry through advanced technology and efficient supply chain solutions. As it continues to expand its network and introduce new features, Soptle is poised to shape the future of B2B retail commerce.
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