Jaipur-based Wholesalebox, an e-commerce portal for traditional wholesalers and traders in fashion and lifestyle, has raised $2 million from a group of investors in a pre-Series A round. The investors included Manish Maheshwari, CEO of Network 18 Digital, and Contrarian Vriddhi Fund among others.
The investment raised will be utilized to scale technology, expand operations in new markets and improve the supplier and buyer experience, the company said.
Wholesalebox was founded in 2015 by Rohit Dangayach, Chandan Agarwal, Madhur Bhaiya and Rakesh Shekhawat to primarily cater to unbranded and local brand markets and claims to sell goods at less than 25-30% of what stores would normally pay. This, the company believes will help shopkeepers to sell their products at a much lower rates than online/offline competitors.
It currently has over 350 manufacturers and about 15,000 registered retailers.