The funds will be used to strengthen the core product offerings and make the platform more useful for users. A significant pie of the funds will be utilized in building a technology stack that will allow the platform to deliver a better experience for its users.
Founded in February 2020 by Nishank Jain and Sanjay Bhat, both alumni of IIM Lucknow, Anar has more than one lakh businesses registered on the platform. Businesses are using the app to connect to each other across India and are sharing information like never before. Anar is enhancing small and medium business communities by helping them to build their network online and offline providing access to new products, current market trends and knowledge to innovate their venture into the broader market.
In a statement, Nishank Jain, Co-Founder and CEO, Anar, said, “Networks of all small businesses used to be limited to local businesses in their area and their current buyers/suppliers. Most of them find it difficult to build a larger network offline as there are less opportunities to do so. This limited their access to new products, markets and most importantly, knowledge and hence reduced their ability to innovate. With Anar – their networks are now spreading all across India. We have been lucky to get the trust and support from the SMB community. We are also grateful to the industry leaders for trusting us and for investing in our venture.”
“This initiative from the young and talented team has a vast potential to revolutionize India’s small and medium businesses,” said Bipin Shah, Partner at Titan Capital, in a statement.
Earlier, networks of all small businesses were limited to the local businesses in their areas and to their current suppliers, and Anar is bridging this gap. The business community platform helps small and medium businesses create their free profile and grow the business network all over India.