SmartDukaan Raises USD 10 Million in Pre-Series A Funding to Expand Its Smartphone Retail Network

SmartDukaan, the smartphone retail tech platform, has successfully raised USD 10 million in a pre-series A funding round led by Findoc Finvest. Leafberry Ads and angel investors also participated in the funding round, as stated in a company press release.

The fresh investment will be utilized by SmartDukaan to establish franchise partnerships, bolster its technology infrastructure, expand its product portfolio, and recruit top talent. The company aims to strengthen its position as the largest mobile retail network in India and digitize the retail industry, offering profitable opportunities for aspiring entrepreneurs.

Commenting on the funding, Tarun Verma, the CEO and founder of SmartDukaan, expressed his excitement and outlined the company’s mission. He said, “This funding will serve as a catalyst for us to enhance and expand our network across the country. Our mission remains to be the largest mobile retail network of India, digitizing and empowering retailers and also inviting aspiring entrepreneurs to be part of a profitable mobile retail business.”

Founded by Tarun Verma, SmartDukaan has already established a strong presence with a network of 350 stores across 100 cities in northern India. The company plans to further expand its footprint and aims to reach 500 stores by the end of December 2023. The allocated funds will be utilized to enhance the company’s backend operations, ensuring seamless service delivery to end consumers.