New Delhi: Merak Ventures, a sector-agnostic early-stage venture capital (VC) firm, announced its first investment in Rupyz, an integrated B2B commerce SaaS platform. The VC firm has invested $1.2 million in seed funding into Rupyz as the lead investor, alongside other angel investors.
Rupyz brings its integrated SaaS solution to enable Small and Medium Businesses (SMBs) to have an omnichannel commerce interface to automate and scale their existing offline and online distribution, boosting sales and fulfilment channels.
The startup focuses on distribution-led B2B businesses, especially in the Food, FMCG, Personal Care, and Lifestyle sectors. Rupyz presently oversees a network inclusive of 85 brands, exceeding 6,500 distributors, and more than 250,000 retailers.
“Rupyz is addressing a critical need by enhancing omnichannel distribution by digitally transforming the B2B businesses of India. These businesses are essential for the economy and for providing access to their products to last-mile consumers,” said Manu Rikhye, Partner at Merak Ventures.
“Rupyz’s commitment to solving real-world challenges in distribution led businesses aligns with our thesis of values-driven investment. We are excited to support their journey towards transforming India’s B2B commerce landscape,” added Rikhye.
The Rupyz team is led by Dhaval Radia, Founder and CEO, a seasoned Chartered Accountant with extensive experience in spearheading lending policies and managing substantial SME loan portfolios.
Gourav Gupta, Rupyz’s Co-Founder and COO, is also a Chartered Accountant. He is known for his adept handling of significant loan books in the banking sector. Akshay Gupta, an IIT-B alumnus, Co-Founder and CBO, brings a fusion of technological insight and entrepreneurial flair.
Palash Lunia, Co-Founder and Sales Head, adds another layer of financial acumen to the group with his expertise in banking, particularly in managing critical divisions. This diverse team, with its blend of financial expertise and innovative entrepreneurship, sets a solid foundation for rapid scaling in the dynamically evolving e-commerce landscape.
“Rupyz’s unique omni-commerce approach is not just enhancing operational efficiencies but is amongst the first brands to completely redefine how firms, distributors, and retailers connect, communicate, and do business. We are privileged to have Merak Ventures join us as we plan to bridge the gap between traditional practices and digital proficiency. Our commitment is to unlock the full potential of India’s B2B e-commerce and supply chain,” said Dhaval Radia, Co-Founder and CEO of Rupyz.
Rupyz is embarking on an ambitious growth trajectory, aiming to onboard over 3000 businesses in the next 12 to 15 months. This expansion reflects the startup’s commitment to broadening its impact and reach within the SMB sector. The latest investment will be strategically utilised to strengthen Rupyz’s core technological offerings, ensuring robust and scalable solutions that cater to the evolving needs of small and medium-sized businesses.