Real Time Angel Fund Invests in Gwalior-based B2B Marketplace MyMandi
MyMandi, a Gwalior-based B2B supply chain marketplace, has raised $1.2 million (Rs 10 crore) in a funding round from Real Time Angel Fund (RTAF), a SEBI-registered angel fund that invests in early-stage startups.
As per the startup, the freshly raised funds will be used to expand its offerings, improve its technological stack, and increase its market reach.
MyMandi | B2B Platform Aggregating the Cartpusher Sector
Founded by Mahanaryaman Scindia and Suryansh Rana in 2022, MyMandi is a B2B platform aggregating the cart pusher sector via a one-stop shop, an online platform & other services (EV & Fintech).
Catering to retailers in tier II/III cities, the Gwalior-based B2B supply chain marketplace aims to bridge the gap between local suppliers and retailers through warehousing, logistics, and financial services.
Speaking about the development, Mahanaaryaman Scindia, Co-founder of MyMandi, stated that this partnership will enable the startup to achieve our vision of transforming India’s agricultural landscape.
“Real-Time Angel Fund’s investment in MyMandi confirms our unwavering commitment to revolutionizing Indian agriculture. With their expertise and resources, we look forward to bringing about a positive change in the supply chains.”
The funding development marks a significant milestone in the growth and development of MyMandi, as the Gwalior-based startup seeks to revolutionize the way B2B marketplaces operate in India. MyMandi is operational in Gwalior, Agra, Jaipur & Nagpur and currently has over 3,000 cart-pullers / small retailers working with them. It aims to bring the number to 5000 by the end of FY24.
Statement from the Investor
Real Time Angel Fund is a sector-agnostic fund that provides funding and networking support to startups with tech expertise and global business connections. It focuses on early-stage startups operating in sectors such as healthtech, fintech, agritech, personal care, artificial intelligence, SaaS, and consumer technology.
Commenting on the development, Pranay Mathur, CEO of Real Time Angel Fund, said,
“We believe in MyMandi’s vision to empower Cart Pushers (Thella Wallas) through technology and market access. We are excited to support them in their journey and look forward to working closely with the MyMandi team to bring about positive change.”
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