Startup funding: EvolveX, the startup accelerator supported by We Founder Circle, on Thursday, announced an investment of Rs 70 lakh in UcliQ, a B2B marketplace for chicken and seafood. UcliQ was part of the second cohort of EvolveX. The angel investment round witnessed the participation of other investors like Vamsi Udayagiri, founder of HESA.
UcliQ plans to utilise the funds in expanding its operations and to reach out to 20,000-25,000 businesses across Delhi/NCR, Bengaluru, and Hyderabad in the next 12 months with an aim to achieve annual revenue of Rs 15 crore. The platform provides logistics and supply chain facilities to meat suppliers while addressing the issues of food wastage in poultry, mutton, fishery, seafood, live chicken birds and ready-to-go categories.
Using digital measures and supply chain innovation, UcliQ connects producers/manufacturers with retailers and businesses in the meat industry.
Sameer Malik, Founder of UcliQ, said, “With this capital infusion, we are poised to accelerate our growth and elevate our innovative ideas to the next level. We are committed to revolutionizing the B2B meat supply chain, bridging gaps, and fostering transparency through a standardized marketplace. Our vision is to create a seamless and sustainable platform that positively impacts the meat industry while empowering businesses. We are excited about the future of UcliQ and remain steadfast in our mission to transform the landscape of B2B meat trading.”
The EvolveX Accelerator, founded by We Founder Circle enables early-revenue startups to accelerate their operations. It provides mentorship to entrepreneurs, upfront funding of $20,000k and $200,000 worth of credits.
Bhawna Bhatnagar, Co-Founder of EvolveX, said, “Having closely evaluated UcliQ’s potential, we are confident by their unique approach to reshaping the B2B meat supply chain in India. The dedication and vision of the UcliQ team have been evident throughout our interactions, and I have no doubt that UcliQ will thrive and leave a lasting impression on the meat industry, benefiting both buyers and sellers alike. I look forward to seeing UcliQ’s continued growth and success in the market.”
We Founder Circle is a group of global angel investors that invests in startups at early stages in the range of $50,000 to $2 million. So far, We Founders Circle invested over $12 million in 33 startups in 2021 alone and more than 70 startups since its inception.