The Bengaluru-based Even flow Brands (Evenflow), an eCommerce rollup Platform has raised $5 million in its Pre-series A funding round from a clutch of investors.
Many investors including Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket, Vijay Shekhar Sharma (Founder and CEO, Paytm), Kunal Shah (Founder and CEO of CRED), Emil Michael (ex-Chief Business Officer at Uber), Nimesh Kampani (Co-founder and CEO, Trica), Sandeep Varaganti (CEO of Marketplace Reliance Retail), Sony Joy (ex-VP, Truecaller), Abhishek Nag (ex-Director of BD at Netflix), Mage Hold (HK based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and others also participated in this round.
The startup plans to use the funds to increase its team size, acquisitions, and grow its technology and operations. It is looking to develop over 20 such Indian brands in the next 12-18 months.
Founded in 2021 by former Uber executives Utsav Agarwal and Pulkit Chhabra, Evenflow acquires and enhances third-party vendors in the Marketplace through operational intelligence across the value chain – marketing, branding, cataloging, supply chain, sourcing, channel expansion, and more.
The startup focuses on creating multi-crore brands in categories where consumers do not have branded options like home & kitchen, baby care, sports & fitness, gardening, etc.
“We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months. Our team is committed to scaling these small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem”, said, Utsav Agarwal, Co-founder, and CEO at Evenflow.
The company partners with promising digital-first brands selling on e-commerce marketplaces like Amazon, Flipkart, Meesho, JioMart, and others and helps them grow profitably.
“We loved the team at Evenflow and the way they are approaching the space in their unique way. We share their vision and the speed at which they have been building capabilities. We are thrilled to back the team and support them in their endeavour with our learnings and our network of LPs”, said, Anne Dwane, Partner at Village Global.
“India’s digital-first online brands is going to be a $100 billion opportunity over the next 4-5 years. However, these brands currently cannot scale up despite having done business on top e-commerce platforms. With Evenflow, several of these brands can become Rs 100 crore brands in a short time, and we are very optimistic about Evenflow’s capacity to build and grow these brands”, said, Dr Apoorva Ranjan Sharma, founder of Venture Catalysts and 9Unicorns.
Great businesses start with relentless entrepreneurs. But to grow at an accelerated and unbound pace, entrepreneurs need help. They, at Evenflow, acquire and grow e-commerce-led brands to greater heights. With the help of dedicated teams of experts from supply chain to marketing, they transform businesses into behemoth brands.