In an official statement Mumbai Angels, a premier platform for private investments, informed that they have invested in WCube, a comprehensive, B2B Procurement Enablement Solution for Large and Mid-sized Enterprises, along with its Co-Investment Partner x10xventures, a venture investments and advisory house.
Mumbai Angels Network is a platform focused on new venture investing. Mumbai Angels has a 190+ strong portfolio across sectors and cities across India.
The funding round also saw participation from other investors, including FAAD Network and other prominent angel investors and family offices. WCube will utilize the fresh capital for scaling the business and expanding its footprint to new geographies.
Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “In the age of technology-enabled disruptions becoming a necessity, the WCube procurement and supply solution is a milestone achieved towards attaining maximum efficiency through a streamlined value chain. With the additional funds coming in, we are confident that WCube would be able to replicate its success model through the subsequent growth stages.”
“WCube creates a synergy between technology, procurement, and supply chain. We envisage ourselves to be the pioneers of ‘The Way Businesses Buy’. WCube has chosen the path of selling the bottom of the pyramid product to large enterprises making Unsexy the Sexy! Today with over 30 categories of products, WCube is fast expanding its national footprint. We are delighted to have prominent and strategic investors join our journey of creating stronger value.” added Udit Karan Chandhok /Akash Narain Mittal, Co-Founder of WCube.
“WCube is leading the way in helping mid- and large-sized enterprises buy better, and is solidly positioned to grow sustainably and rapidly into Indian entities’ preferred procurement partner. x10xventures is delighted to be partnering with Karan and Akash in their journey to consistently generate value for all of WCube’s stakeholders. We’re confident that the team’s laser-sharp focus on customer experience and its systematically curated integration of technology in solving procurement for businesses shall continue delighting WCube’s clients and vendor-partners,” said Co-Lead Investors Rishabh Dugar, Co-Founder and CMD, and Sanyam Dugar, Co-Founder and CEO, x10xventures.
WCube was founded by Udit Karan Chandhok and Akash Narain Mittal, to disrupt the procurement metrics for large enterprises across Manufacturing, New Age Businesses, BFSI, HORECA and Real Estate. With a strong team of 50 members WCube is looking for a national expansion in the coming quarters. It currently serves over 250+ clients, sells over 30 categories and has over 50 million products.