Lal10, a wholesale cross-border marketplace for Indian artisans to sell their goods, has raised $5.5 million in its pre-Series A debt and equity round led by Yuj Ventures (Xander Group) and Beyond Capital Ventures.
Of the funding, $4 million was in equity funding while the rest was in the form of debt.
Spiral Ventures, Singularity Ventures, Asymmetry Ventures, Blacksoil, Panthera Peak, and Pegasus FinInvest also participated in the round.
The company said it will use the capital to expand across the United States, Japan, and the Middle East and to expand its tech-based supply chain solutions to buyers and technology innovations for micro, small and medium enterprises (MSMEs)
Founded in 2017 by Maneet Gohil, Sanchit Govil, and Albin Jose, Lal10 is a tech-enabled full-stack platform for craft-based MSMEs with over 2,200 craft MSMEs using the application to digitize their inventories for global wholesale and become skilled with contemporary design trends as well as source raw materials directly from factories.
Read more on Tech Gist Africa:
Healthtech startup Eka Care Care raises $15 million
Indian Solar financing platform Aerem raises $2.5 Million
ConsCent, a content monetization platform has raised $1.75 million