Anar Raises Investment From Titan Capital
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Business community platform Anar on Thursday announced to have raised an undisclosed amount of funding led by Titan Capital.
The funds will be used to strengthen the core product offerings and make the platform more useful for users.
A significant pie of the funds will be utilized in building a technology stack that will allow the platform to deliver a better experience for its users.
"Before Anar, networks of all small businesses used to be limited to local businesses in their area/town and their current buyers/suppliers. Most of them find it difficult to build a larger network offline as there are fewer opportunities to do so. This limited their access to new products, markets, and most importantly, knowledge and hence reduced their ability to innovate," said Nishank Jain, co-founder, and chief executive officer, Anar.
Founded in February 2020 by Nishank Jain and Sanjay Bhat, both alumni of IIM-Lucknow, Anar has over 100,000 businesses registered on the platform. Businesses are using the app to connect to each other across India and are sharing information in a way never experienced before.
"With Anar, their networks are now spreading all across India. This new-found discovery and knowledge will help them innovate in ways never imagined before. We have been lucky to get tremendous trust and support from the small and medium business (SMB) community. We are also immensely grateful to the industry leaders for trusting us and for investing in our venture. The support and guidance from these prominent players will indeed allow us to strengthen our core business in India," Jain further added.
Anar is enhancing SMB communities by helping them to build their network online and offline providing access to new products, current market trends, and knowledge to innovate their venture into the broader market, the company shared.
"We are happy to partner with a unique platform like Anar. This amazing initiative from the young and talented team has a vast potential to revolutionize India's small and medium businesses," commented Bipin Shah, partner, Titan Capital.
Earlier, networks of all small businesses were limited to the local businesses in their area/town and to their current buyers/suppliers, and the company has claimed to be bridging this gap. The business community platform helps small and medium businesses create their free profile and grow the business network all over India.