Xpand Raises $ 1.5 Million In Pre-Series A Funding The company aims to utilize the funds to enhance the in-house tech capabilities
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Xpand, a platform of Last Mile Channel Enhancement (LMCE), has raised $ 1.5 million in pre-Series A funding. The valuation approximately stands at $ 10 million, said a statement.
The company aims to utilise the funds to enhance the in-house tech capabilities and build a trained, tech-savvy, and efficient geo-local sales force.
Prime Securities Ltd was the exclusive investment banker to this transaction.
The round was led by Akash Prakash (CEO, Amansa Capital) along with Madhu Jayakumar, Dipinder Sandhu and Shagun Khandelwal.
Sanjay Kaul, founder and CEO, LMCE, said, "With Xpand, we are connecting retailers and companies on a single platform to solve their last-mile challenges. Simultaneously, we would empower and enable traditional Kiryana to leverage technology to streamline their operations and widen their portfolio. We have already made substantial investment in the pre-incorporation stage towards technology and market prioritisation."
Xpand is a human-tech B2B aggregator platform that aims to empower retailers, franchises, and companies. Incepted in March 2021, the platform leverages existing infrastructure with zero investment in stock, warehousing, or logistics.
