B2B networking platform Anar has raised $6.2 million in its seed round co-led by Elevation Capital and Accel India. First Cheque and Utsav Somani of AngelList India participated in the fundraising, as did angels such as Pratilipi cofounder Ranjeet Pratap Singh, ShareChat cofounder Farid Ahsan, Meesho cofounders Vidit Aatrey and Sanjeev Barnwal, and BharatPe cofounder Shashvat Nakrani.
According to the Mumbai-based startup, the proceeds will be used to strengthen its product and technology capabilities.
Launched in 2020 by IIM Lucknow alumni Nishank Jain and Sanjay Bhat, Anar caters primarily to small and medium enterprises across the value chain—from manufacturers, retailers and resellers— helping them connect and interact with one another. The platform has already gained more than two lakh registered businesses, reported ET.
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According to the company, while small businesses constantly need to network to find new suppliers, vendors and customers, over 85% of them have small, fragmented networks. This limits their access to new products, markets and—most importantly—market knowledge, thereby reducing their ability to innovate.
Nishank Jain, co-founder and CEO, Anar, said, “For all these years, SMB owners are used to getting business through their relationships and networks. With Anar, we want to enable owners to focus on something they are good at, i.e. building their network to grow their business. Anar is a 0-to-1 solution in this space with no other global peers, and we are humbled by our investors’ belief in our team and our vision. These funds will help us deliver a world-class product for SMBs.”
On the Anar app, all retailers, resellers, wholesalers, distributors and manufacturers can create their own profiles, upload their catalogues, create posts, form connections, post requirements and interact with one another. The company focuses on onboarding businesses across multiple verticals, especially jewellery, clothing, grocery stores, footwear, leather products, and similar verticals.
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