Electrade Raises Seed Funding Round
Electrade, a Delhi, India-based SaaS vertical marketplace for electronics components, has raised seed funding.
The round was led by early-stage venture capital firm DeVC, with participation from prominent investors such as Amit Lakhotia (Park+), Pawan Gupta (Fashinza), and Arjun Kapoor.
Founded in 2022, DeVC is a venture capital firm based in Bangalore, India. The firm focuses on investments in B2B, fintech, climate, crypto, healthcare, and SaaS sectors.
The funds will be used to enhance Electrade’s AI-driven SaaS solutions, as well as its sales, marketing, and team expansion efforts.
Founded in 2019 by Rishikesh Ranjan, Electrade offers a streamlined supply chain network for electronics components for product manufacturers, standardizing both imported and domestically manufactured parts. The company leverages AI for demand forecasting, alternate part recommendations, and part listings. Electrade serves clients such as Park+ and Urban Company and supports educational institutions, including IITs.
Funding Details
Company: Electrade
Raised: Undisclosed
Round: Seed Round
Date: November 2024
Lead Investor: DeVC
Additional Investors: Amit Lakhotia, Pawan Gupta, Arjun Kapoor
Company Website: https://www.hnhcart.com/
Software Category: SaaS Marketplace