Technology-led B2B artesian startup Lal10 announced that it has now secured $1.1 million. The round was led by the Sorenson Impact from Utah.
Some of the Indian angel investors inludes Amit Ranjan, Praveen Gandhi, and some other angel investors.
Lal10 was founded by the IIT Madras alumni and former Flipkart employee Maneet Gohil, Albin Jose, and Sanchit Govil in 2016.
In a statement, Maneet said,
“Leveraging technology for the first time amongst the rural artisans and SMEs, Lal10 creates efficiencies in the supply chain by connecting 1,500 artisans to global retailers. We will utilize the funds to create a strong technology product to achieve supply efficiency and focus on more international B2B retailers. We will digitize 10,000 artisans in 2020.”
The startup helps the Indian artisans and SMEs reach out to global investors. It offers sustainable livelihood to more than 1500 Indian artisans across the eight low-income states.
Amit, Founder of SlideShare, said:
“Lal10 is executing brilliantly to digitise and bring structure to the B2B commerce market for artisanal products. They have created an innovative model for artisanal micro-entrepreneurs from India’s rural heartlands – they connect these artisans to global retailers by digitising their inventories via a mobile CRM solution.”