BENGALURU : Business-to-business (B2B) networking platform Anar raised $ 6.2 million (approx. ??45 crore) as part of its seed funding round co-led by Elevation Capital and Accel India.
This tour also saw the participation of First Check and Utsav Somani, partner of AngelList India.
Other prominent Indian founders including Ranjeet Pratap Singh from Pratilipi, Farid Ahsan from ShareChat, Vidit Aatrey and Sanjeev Barnwal from Meesho and Shashvat Nakrani from BharatPe also participated in this round.
The company will use the funds raised to strengthen its product and technology capabilities, she said in a statement.
Launched in February 2020, the Anar business app primarily targets small and medium-sized enterprises (SMEs) across the value chain, from manufacturers to retailers and resellers, helping them connect and interact with each other. with the others.
“For all these years, small business owners have become accustomed to doing business through their connections and networks. With Anar, we want to allow owners to focus on something they’re good at, which is building their network to grow their business. Anar is a 0 to 1 solution in this space without any other global counterpart, and we are touched by our investors’ confidence in our team and our vision. These funds will help us deliver a world-class product to SMEs, ”said Nishank Jain, Anar co-founder.
On the Anar business app, all retailers, resellers, wholesalers, distributors, and manufacturers can create their own profiles, upload their catalogs, create posts, make connections, post requirements, and interact with each other. Today, Anar is focused on integrating businesses across multiple verticals, especially jewelry, apparel, grocery, footwear, leather products, and similar verticals.
“We have long believed in the power of networking to empower and energize businesses, but we have observed a gap in MSMEs that is limited by legacy relationships. Anar takes a unique approach focused on discovering B2B relationships (and commerce) and enables small businesses to create their digital presence and forge connections in a truly seamless way, ”said Amit Aggarwal, vice president, Elevation Capital.
Since its launch, the platform has gained over 200,000 businesses registered on the platform.
“Anar is building a new corporate social network for SMEs in India. A more collaborative way of doing business, and something that didn’t exist in India before, ”Prayank Swaroop, Partner, Accel India.
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