Pre-Seed finance of US$5 million was raised by PriyoShop, a B2B retail marketplace for MSMEs situated in Dhaka, Bangladesh.
Century Oak Ventures led the investment, and Iterative, Evolution Ventures, BonBillo, GFR Fund, Accelerating Asia, South Asia Tech Partners, and Voltity also participated.
The money will be used by the business to launch its retail supply chain solutions, which are intended to help companies in a range of industries.
Co-founded by Chief Marketing Officer Dipty Mandal and Chief Executive Officer Asikul Alam Khan, PriyoShop provides exclusive partnerships with suppliers and brands, assisting them in adopting full-stack digital infrastructure to manage their supply chains, digitizing logistics support, streamlining operations, and expanding nationwide access throughout Bangladesh. Its distribution services can handle a wide range of products, including consumer goods, electronics, fashion items, and more, for partner companies and suppliers.
Over 200 brands, including Pusti, Rupchanda, Teer, New Zealand Dairy, Pepsico, Coca-Cola, and many more, have worked with the company to far. Additionally, it is growing into the food and beverage sector and optimizing supply chains for lodging facilities, eateries, and cafés.
By means of its collaboration with LankaBangla Financing, a digital financing platform, PriyoShop can provide MSMEs with supply chain financing solutions and credit facilities to enable them to grow their enterprises.
