1Bridge, an Indian village tech startup offering a last-mile logistics and dispensation network to the remote regions of the country, has raised US$ 2.5 million in a Seed funding round led by Netherlands-based investor C4D Partners on 31 August 2021.
Investors: The latest funding round featured C4D Partners as the lead investor with participation from KAAJ Ventures and a pool of angel investors, namely, Prashanth Prakash, Puneet Jetli, Aradhana D Chatterjee, and Prashanth Boccasam. The startup has also managed to raise its first-ever working facility from Ananya Finance for Inclusive Growth.
Purpose of the funding: The firm seeks to deploy the proceeds from the investment round towards its platform and tech development and stimulating expansion plans through strategic collaborations.
About 1Bridge
Brought to existence in 2016 by Madan Padaki, Anil Kumar and M Chakrawarty, 1Bridge delivers various aspiring offerings at the front door of remote users. The firm operates in tandem with regional rural entrepreneurs, also referred to as 1Bridge Advisors, to provide its offerings through an instinctive mobile-driven tech interface. 1Bridge has witnessed stable growth in the past four years and intends to surpass gross revenue of 1 billion INR in FY22. The startup seeks to serve 10,000 more villages by adding more than 10,000 entrepreneurs to its robust network. It also envisages rolling out more than 500 1Bridge Experience Centres. The firm has established its presence in more than 70 districts of southern India and currently runs in Telangana, Odisha, Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra. It has completed 35 million transactions for remote clients, catering to nearly 1.5 million remote users explicitly to date.
What the Founder has to say: “We are grateful to our investors for showing faith in our dream to tie aspirations, frame opportunities, paving the way for abundance to remote India. The latest funds will fuel our goal to broaden the network, improve our technology and data platform, launch 1Bridge Experience Zones at district-level and enter into partnerships for expansion of last-mile logistics and dispensation.”- Madan Padaki, Founder and CEO of 1Bridge.
What the Investor has to say: “We have always been a zestful participant in the advancement of 1Bridge since its establishment in 2016, to currently a significant player in village commerce. The startup’s roots are deep, prioritizing village user experience, supported commerce interface, astonishing implementing potential, and capital efficiency. It is exhilarating to assist 1Bridge in its next phase of growth financially.”- Arvind Agarwal, CEO of C4D Partners.
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