India, September 25, 2023: MyMandi, a B2B marketplace based in Gwalior that caters to cart-pushers (thela-walas), has recently announced the successful completion of its CCD round, raising a staggering Rs. 10 crores. This round of funding was led by Real Time Angel Fund (RTAF), a leading SEBI-registered angel fund based in India that specializes in early-stage investments in innovative startups. The fact that MyMandi has secured this funding is a testament to its immense potential and the confidence it has garnered within the industry. This strategic investment marks a significant milestone in the growth and development of MyMandi, as it seeks to revolutionize the way B2B marketplaces operate in India.
The investment will be instrumental in propelling MyMandi's growth trajectory and furthering its mission to empower farmers across India. MyMandi plans to utilize the funds to expand its offerings, enhance its technological infrastructure, and increase its market reach, thus solidifying its position in the market. The enterprise currently has over 3000 cart-pullers / small retailers associated with them; and their aim is to bring aboard 5000by the end of this financial year .
"We are honored to have Real Time Angel Fund as the lead investor in our current funding round. Their extensive experience in the agriculture technology sector will be invaluable to our team as we continue to push boundaries and make a meaningful impact on the Indian supply chain and distribution network in tier 2-4 cities. This partnership will enable us to achieve our vision of transforming India's agricultural landscape. Real-Time Angel Fund's investment in MyMandi confirms our unwavering commitment to revolutionizing Indian agriculture. With their expertise and resources, we look forward to bringing about a positive change in the supply chain s." - Mahanaaryaman Scindia, Co-Founder of MyMandi.
"MyMandi's vision to empower Cart Pushers/Thella Wallas and smaller retailers through technology and market access is truly inspiring. As a socially responsible investor, Real Time Angel Fund is excited to support them in their journey to bring about positive change. We strongly believe in the potential of MyMandi's platform and are committed to working closely with their team to help them achieve their goals," said Pranay Mathur, CEO of Real Time Angel Fund. “We believe in MyMandi's vision to empower Cart Pushers (Thella Wallas) through technology and market access. We are excited to support them in their journey and look forward to working closely with the MyMandi team to bring about positive change,"
This funding round marks a significant milestone for MyMandi, and the startup is poised for rapid expansion and innovation in this space. The funding will enable MyMandi to enhance its product offerings, strengthen its team, and deepen its impact on Indian agriculture.
About Real Time Angel Fund:
Real Time Angel Fund is a leading SEBI-registered angel fund based in India, specializing in early-stage investments in innovative startups. The fund is sector agnostic, focusing on sectors such as health tech, fintech, green energy, artificial intelligence, and consumer technology. It provides startups with capital, mentorship, and operational support to accelerate their growth and create significant value through various global partnerships. Real Time Angel Fund is committed to fostering innovation and entrepreneurship in India and beyond and has a strong track record of successful investments in high-growth startups.
About MyMandi
Founded in 2022 by Mahanaryaman Scindia and Suryansh Rana, MyMandi is a B2B supply chain network for retailers in tier 2/4 cities providing a one-stop-shop and other integrated business solutions. By focusing on fresh produce and staples, MyMandi aims to bridge the gap between local suppliers and retailers through warehousing, logistics and financial services. By enabling the local mandis, our objective is to re-engineer the hyperlocal supply chain.
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