India’s Aksum Trademart, a B2B startup which helps supply raw materials to small- to medium-sized businesses (SMBs) and enterprises, is reportedly looking to raise $25 million to expand.
According to a Saturday (Aug. 27) report from the Economic Times of India, the startup has worked with various names including L&T, Jindal Stainless and Tata Projects. The company ships out various materials, including steel, coal, tiles, paint, polymer and more.
Aksum Trademart said its goal was to raise more capital and invest into more technology for the company. One co-founder, Ankit Jain, noted that the future of the digital supply chain will require more companies to outsource, making the right tech essential.
Meanwhile, co-founder Sumit Bhatia said the future will involve end-to-end connectivity, improved productivity and better asset management, which the company wants to help with. The startup also recently closed a debt factoring limit with a non-banking financial company (NBFC) to help scale up business, per the report.
There have been other innovations in the supply chain as of late, including the partnership between supply chain digitization provider Inxeption and rug and bedding retailer Dahdoul Textiles, which will digitize the merchant’s supply chain and freight management processes.
Read more: Retailers Deploy Inxeption Technology to Ease Supply Chain Complexity
PYMNTS wrote that this will see Inxeption’s industrial commerce super app being used to help Dahdoul book, track and manage truckload and parcel freight transportation services.
Inxeption Chief Commercial Officer Josh Allen said the company wanted to cut out the complexity from freight transportation and “truly democratize” supply chain tech.
The company offers help with various aspects of coordination and delivery, including acquiring raw materials, shipping manufactured products and collecting final payments. It comes with a centralized dashboard to help users access applications in logistics, FinTech and digital, supply chains and search and marketplace.
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