Lal10 is a wholesale cross-border platform that has raised $5.5 million in a pre-Series A round. The round was led by Yuj Ventures and Beyond Capital Ventures.
Lal10 is planning to utilize the fresh funding capital in the following ways:
This MSME-focused wholesale platform, Lal10 has a target to reach a $100 million run rate in a year by focusing on the home textile category.
Lal10 was founded by Maneet Gohil, Sanchit Govil, and Albin Jose in the year 2017. This Noida-based platform is an online platform for grassroots MSMEs in India. The company is creating a maker’s revolution by digitizing the rural manufacturers of small and medium scale to take their sustainable products to global markets.
As per the wordings of the founder of the company, India has a production appetite of over $160 billion with Tier III and Tier IV production hubs in the places like Bhagalpur, Pochampally, Maheshwar, and Amroha, which are yet to come on the global map.
Sid Yog, the founder of Xander Group, marked his words by saying that Lal10 is maintaining and developing a systemic change with its efficient tech-enabled supply chain by building a cross-border platform for empowering Indian craft-based MSMEs across smaller towns and cities in India.
Maneet Gohil the CEO & Co-founder of Lal10, has mentioned that “Lal10 is building technologies for the next craft revolution. As a brand, we intend to digitize the entire craft industry in India and prepare them for global wholesale. India's $3.5 billion export GDP in creative produce comes from a handful of production hubs like Panipat, Moradabad, Saharanpur, Jaipur, and Tirupur."
"We are making Bhagalpur the next Panipat by enabling contemporary designs, technology innovations for a transparent supply chain, and digitizing inventories of sustainable products for discovery to global buyers wholesale. We want to thank all investors for placing their trust in us, our mission, and for joining hands to enable Lal10 to help 1.2 million Indian craft-based MSMEs go global.”