StackBOX Secures $1.2 Mn From CMM Group And Ecosystem Ventures
The company has grown fourfold in revenue in the last 12 months and is operational in Hyderabad, Delhi-NCR, Chennai and delivering over 50,000 orders of retailers per month
CMM Group and Ecosystem Ventures, informed on Tuesday to have led the $1.2 million funding round in Bengaluru-based logisticstech startup StackBOX.
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"StackBOX not only has a huge opportunity to capture the $800 billion Indian retail market but is also making inroads into international markets with their FMCG-focused last-mile distribution solutions," said Abhijeet Bhandari, co-founder, Ecosystem Ventures.
StackBOX has customers such as Flipkart, ITC, P&G, Dabur, Britannia, and Udaan, among others.
"Well, in any market, every brand has a separate supply chain to serve the same set of retailers through distributors. Now, what if we build a single, combined super-pipeline to deliver to all these retailers. This removes all the redundancies and brings in efficiency by scale. In order to do that, we need to look at the supply chain of B2B from first principles thinking," noted Shanmukha Boora, co-founder, StackBOX.
The company has grown fourfold in revenue in the last 12 months and is operational in Hyderabad, Delhi NCR, Chennai and delivering over 50,000 orders of retailers per month. They are already working with several large FMCG and B2B e-commerce companies and have a huge pipeline of customers. With this funding, they plan to set up more fulfillment centers to service customers in different geographies.
"There are a lot of inefficiencies in the current Food and FMCG Retail Distribution as no one has used technology to solve this problem at scale. We are bringing visibility and efficiency by digitizing B2B last mile delivery (to kiranas) and automation and tech interventions are key to drive this," added Venktesh Kumar, managing director, StackBOX.
India's general trade market comprising of kirana stores still accounts for 75 per cent of FMCG sales despite the growth of e-commerce and hypermarkets. StackBOX is helping B2B e-commerce, FMCG, Cash & Carry companies solve their B2B last-mile fulfillment problem. StackBOX is setting up a network of multi-brand Micro Fulfillment Centers, Cross docks, and Dark stores powered by cutting-edge technology including proprietary routing optimization, party level packaging, etc.
