Monday, March 27, 2023
HomeInsightFunding Alert Tiger Global-Backed Bizongo raises $25 mn in funding

[Funding alert] Tiger Global-Backed Bizongo raises $25 mn in funding

Bizongo, a B2B packaging startup has raised $25 million in funding from Liquidity Group’s Mars Growth Capital.
Team Bizongo

Bizongo, a B2B packaging startup has raised $25 million in funding from Liquidity Group’s Mars Growth Capital.

The company plans to use the funds to expand its footprint in Southeast Asia and grow its customer base for the supply chain business.

The Mumbai-based Bizongo was founded in 2015 by IIT graduates–Aniket Deb, Sachin Agrawal and Ankit Tomar, It is a tech-enabled B2B platform that provides packaging solutions across sectors including consumer durables, fashion & lifestyle, textiles, consumer discretionary, pharmaceuticals, home and personal care.

Read also – [Funding alert] Incluzon raises bridge funding from ah! Ventures

It also provides supply chain automation and financing, and digital vendor management services through its proprietary digital platforms – Procure Live, Partner Hub and Artwork Flow.

The company has over 300 commercial customers and over 3,000 partner factories through its two platforms – Procure Live and Partner Hub.

“Bizongo has powered Indian manufacturers to automate their supply chain, access working capital and increase their clientele. We want to bring similar benefits to manufacturers across SE Asia and help them scale. The credit line from Mars Growth Capital will fuel our expansion into more sectors”, said, Sachin Agrawal, co-founder, Bizongo.

The company’s product offerings include carry bags, material handling equipment, protective packaging, pouches and tubes, packaging, containers, cans, shippers, paper products, bulk packaging and cartons.

“The funding will allow for 100% availability of packaging material and no-stock-outs at very low inventory level, as well as help Bizongo’s clients to reduce their made-to-order product line procurement cost,” said, Yaron Primovich, managing director at Mars Growth Capital and the Global CRO of Liquidity Group.

Recently it had acquired IOT startup Clean Slate in March for an undisclosed amount.

Read also – [Funding alert] Jify raises $10 mn in Series A round from Accel, Nexus Venture Partners

In December 2021, Bizongo had raised $110 million in its series D funding round led by Tiger Global at a 600 million valuation.

About Bizongo

Bizongo is India’s largest B2B platform for made-to-order products. Bizongo was founded in 2015 by three IIT graduates Aniket Deb, Sachin Agrawal, and Ankit Tomar to consolidate the fragmented and unbranded yet unique and ubiquitous B2B segment of Made-to-Order goods.

With a clear focus on optimizing supply chains for unbranded products, Bizongo enables businesses with services across vendor management, supply chain automation, and cash flow optimization using its proprietary digital platforms like Procure Live, Artwork Flow, and Partner Hub.

Bizongo aims to empower businesses with reduced operational overhead, cost savings, and easier contract management with its bouquet of digital services in the era of increasing commodity prices.

Bizongo has witnessed tremendous growth over the last year, delivering more than 1 billion product units to over 600+ clients in partnership with 750+ manufacturers. Bizongo was the Startup of the Year at Express IT Awards 2019, ranked No 1 in Deloitte Technology Fast 50 2019 India and featured in the 2019 LinkedIn Top Startups List. The organization’s vision is backed by illustrious investors that include Accel, B Capital, Chiratae Ventures, IFC, CDC Group, SCG AddVentures, and Tiger Global Management.

- Advertisment -

Most Popular

- Advertisment -

Also Read

- Advertisment -

Subscribe to our weekly newsletter and don't forget to check out the latest updates.