RVCF, the Jaipur headquartered VC Fund which is focussed on early stage investments, has made an investment in Wholesalebox Internet Private Limited(WSB). Existing investors Orios Venture Partners and Contrarian Drishti Partners also participated in the round. Wholesalebox is a pioneer in digitalisation of the supply chain in fashion and lifestyle space currently solving the pain point of procurement for the unbranded retailers which constitutes majority of the market. The retailer benefit from fresh fashion, small and frequent purchases, taste mapping and curated offerings. WSB is empowering shopkeepers with technology, enabling shopkeepers’ who are buying from WSB to also get walk ins by making their inventory discoverable.
Wholesalebox was established in 2015 by Rohit Dangayach, an IIT Roorkee alumnus/IIM Bangalore and former executive at CarDekho , Chandan Agarwal (COO), a former investment banker at Citi; Madhur Bhaiya (VP of Technology), an IIT Delhi alumnus and Rakesh Shekhawat (VP of technology), who sold his software services to start WSB. The company will use the funds primarily to roll out operations in the new markets.
“There is a huge opportunity in terms of business growth using technology in the highly unorganised and fragmented wholesale apparel market”, said K Ganapathy Subramanian, CEO of RVCF.