Total amount raised
$9.1 Millions
Latest funding date
Location
Lal10 has successfully raised $5.5 million in Series A bridge funding, positioning itself as a key player in the cross-border wholesale market for Indian MSMEs. The platform enables small manufacturers to digitize their inventories and make them available for global wholesale, combining elements of Shopify and Alibaba.
Keep reading to explore the intricacies of Lal10's fundraising journey and the investors backing this innovative platform.
What Is Lal10?
Lal10, founded on January 26, 2017, is a dynamic player in the consumer goods, e-commerce, lifestyle, shopping, and wholesale industries. Based in Noida, Uttar Pradesh, India, the company was established by Albin Jose, Maneet Gohil, and Sanchit Govil.
With a workforce of 51-100 employees, Lal10 focuses on enabling creative manufacturing MSMEs to digitize, manage, and sell their inventories for cross-border wholesale. The company aims to revolutionize the apparel manufacturing industry in India, offering services from design to global shipping, while emphasizing a transparent supply chain and sustainable practices.
How Much Funding Has Lal10 Raised?
- Seed Round
- Amount Raised: $400K
- Date: July 2018
- Lead Investors: TT Jagannathan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the platform and develop initial technology solutions.
- Grant
- Amount Raised: Not disclosed
- Date: March 2019
- Lead Investors: HDFC Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to digitize MSMEs.
- Convertible Note
- Amount Raised: $80K
- Date: August 2019
- Lead Investors: IIMA Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for growth.
- Seed Round
- Amount Raised: $1.1M
- Date: March 2020
- Lead Investors: Sorenson Impact
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and enhance technology solutions.
- Seed Round
- Amount Raised: $2M
- Date: February 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: $1.5M
- Date: July 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expansion and technology upgrades.
- Seed Round
- Amount Raised: $4M
- Date: July 2022
- Lead Investors: Beyond Capital, Yuj Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand aggressively in the global market and enhance tech-based supply chain solutions.
Total Amount Raised: $9.08M
Current Valuation: Not publicly disclosed
Key Investors
- Beyond Capital
- Details: Beyond Capital is an investment firm focused on social impact. They aim to support scalable businesses that improve the lives of low-income communities.
- Investment Focus Areas: Social enterprises, impact investing, sustainable growth.
- Notable Investments: Various social enterprises.
- Yuj Ventures
- Details: Yuj Ventures is part of the Xander Group, a global investment firm. They focus on creating value through investments in various sectors.
- Investment Focus Areas: Technology, supply chain, early-stage investments.
- Notable Investments: Various tech startups.
- Sorenson Impact
- Details: Sorenson Impact is an impact investment firm. They focus on investments that drive social impact and sustainable development.
- Investment Focus Areas: Social impact, sustainable development, impact-driven companies.
- Notable Investments: Various impact-driven companies.
- IIMA Ventures
- Details: IIMA Ventures is the venture capital arm of the Indian Institute of Management Ahmedabad. They focus on early-stage startups and innovation.
- Investment Focus Areas: Early-stage startups, innovation, technology.
- Notable Investments: Various startups.
- TT Jagannathan
- Details: TT Jagannathan is the Chairman of TTK Prestige, a leading kitchen appliances company in India. He is known for his contributions to the consumer goods sector.
- Investment Focus Areas: Consumer goods, kitchen appliances, technology.
- Notable Investments: Various consumer goods companies.
What's Next for Lal10?
As Lal10 sets its sights on expanding into the US, Japan, and the Middle East, the opportunities are vast. The company aims to enhance its tech-based supply chain solutions and digitize the craft industry in India, targeting a $100 million run rate within the next year. This ambitious growth plan positions Lal10 to tap into the large, disorganized B2B rural-sourcing market, which is ripe for disruption.
Future fundraising rounds seem inevitable as Lal10 scales its operations to meet international demand. The company’s focus on technology and global market penetration will likely attract further investment, enabling it to sustain its rapid growth trajectory. However, challenges such as managing a geographically dispersed supply chain and ensuring product quality from rural artisans could pose significant hurdles.
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