INDIA – Wogom, a Mumbai, India-based provider of a cloud-based platform enabling the distribution and retailer ecosystem of consumer electronics and mobile phones in hinterland India, raised US$19M in funding.
The money was raised in 2 tranches – US$600K a couple of months earlier, and US$1.3M later. The round saw participation from angel investors & Family Offices. The company intends to to use the funds to expand operations and its business reach.Led by Nirav Patel, Founder & CEO, World Goods Marketplace (Wogom) is a cloud-based platform enabling the distribution and retailer ecosystem in hinterland India focused on consumer electronics and mobile phone categories. Besides helping distributors and retailers find their customers, the platform also helps dealers expand their sales and enhance profits, solve trade credit issues, and help as a launch pad for new brands/ entrants. It takes the risk on behalf of the retailer by providing finance against the goods being supplied, removing a key pain point for distributors. The model has been piloted in Gujarat with 1200+ dealers/distributors across all districts currently registered on the platform. Wogom also intends to bring brands into India. 12/09/2023
