WCube, a comprehensive, B2B procurement enablement solution for large and mid-sized Enterprises, has raised Seed funding (undisclosed amount) it from Mumbai Angels, a premier platform for private investments, along with its co-investment Partner x10xventures, a venture investments and advisory house.
The funding round also saw participation from other investors, including FAAD Network and other prominent angel investors and family offices.
What does the startup do?
WCube was founded by Udit Karan Chandhok and Akash Narain Mittal, to disrupt the procurement metrics for large enterprises across Manufacturing, New Age Businesses, BFSI, HORECA and Real Estate.
WCube creates a synergy between technology, procurement, and supply chain. "We envisage ourselves to be the pioneers of ‘The Way Businesses Buy’ ", said co-founders. WCube has chosen the path of selling the bottom of the pyramid product to large enterprises
Where will funds be utilized?
Udit Karan Chandhok, Akash Narain Mittal, Co-Founders, WCube said, "WCube will utilize the fresh capital for scaling the business and expanding its footprint to new geographies."
With a team of 50 members WCube is looking for a national expansion in the coming quarters. It currently serves over 250+ clients, sells over 30 categories and has over 50 million products.
On investment
Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “In the age of technology-enabled disruptions becoming a necessity, the WCube procurement and supply solution is a milestone achieved towards attaining maximum efficiency through a streamlined value chain. With the additional funds coming in, we are confident that WCube would be able to replicate its success model through the subsequent growth stages.”
“WCube is leading the way in helping mid- and large-sized enterprises buy better, and is solidly positioned to grow sustainably and rapidly into Indian entities’ preferred procurement partner,” said Co-Lead Investors Rishabh Dugar, Co-Founder and CMD, and Sanyam Dugar, Co-Founder and CEO, x10xventures.
