In recent news, a Karachi-based startup called Jugnu and its parent company Salesflo have raised $3.2 million for its B2B e-commerce marketplace from one of the top tier technology companies based in Lahore i.e. Systems Limited. This even included some angel investors that made a contribution towards the investment.
Through the funding provided by Systems Limited, the global tech company will have a 20 percent stake in the company. Jugnu was launched by Salesflo in 2020 which used their own cloud computing services to enable small grocery retailers in the country to obtain inventory for their stores. The startup serves nearly thousands of grocery store owners through its mobile application and respective fulfillment centers. The service is said to be fast and smooth hence offering next-day delivery for all respective purchases of the customers.
The startup is powered by Salesflo, which was founded by industry veterans Yasir Suleman Memon, Sharoon Saleem, Syed Khurram Haider, and Ahsan Muhammad Khan, which was the first software company that had established its cloud-based sales and distribution platform for FMCGs. The platform was operated alongside 40 enterprise FMCGs, pharmaceutical, and distribution companies ensuring feasible access for nearly 300,000 retailers.
Moreover, with the startup now Jugnu backed up by Systems, Jugnu will have the resources to further expand themselves through using the latest technologies and digital tools. Moreover, with Systems owning a fully established fintech called OneLoad, Jugnu will have more opportunities to work with prominent partners.
This all surely gives the startup an edge over its competitors such as Bazaar, Dastgyr, Retailo, and Tajir who have similarly raised similar ranges of investment for their respective proceedings.