Aksum Trademart to raise $25 million

29 Aug 2022 , 08:55 AM

In order to finance its expansion aspirations, Aksum Trademart, a business-to-business (B2B) firm that supplies raw materials to MSMEs, seeks to raise $25 million (about Rs 199 crore) from investors. A boutique investment banking firm has been retained by the business to aid with capital raising.

“We intend to raise money in stages to coincide with our growth milestones and for technical developments. In accordance with the growth benchmarks, we intend to fund $25 million over the next 12 months. Co-founder of Aksum Trademart, Sumit Bhatia, stated

Ankit Jain, the other co-founder, stated that the business is in talks with family offices and early-stage investors to get the necessary funds. He added that companies will need to outsource or use Supply Chain as a Service because the future digital supply chain will demand it (SCaaS)

According to Bhatia, end-to-end connectivity, increased productivity, reduced costs, increased flexibility, and improved asset management are among the benefits.

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