Blubirch, a company that offers businesses a SaaS and AI-powered platform for managing their reverse supply chain, has raised $6.37 Mn (INR 53 crore) in a Series A fundraising round headed by Cornerstone Ventures and Capital2B.
According to Blubirch, it will leverage the additional funding to expand its market reach and quicken its growth within original equipment manufacturer (OEM) networks and retailer markets.
“The funds will be deployed towards enhancing product development, majorly increasing acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration,” said Sapan Jain, CEO of Blubirch. “A key component of our growth strategy is our international foray into the MENA-GCC market.”
Blubirch’s solutions suite helps consumers across the reverse supply network identify void returns at source and streamline the handling of consumer, dealer, online shopping, warranty, swapping return, rental, and internal returns.
“We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs’ decisions on disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply-chain for its customers, taking the value proposition beyond reverse automation,” said Abhishek Prasad, managing partner of Cornerstone Venture Partners Fund.
Blubirch leads the industry in Returns Automation Platform as a Service (RA-PaaS), enhancing sales, profit margins, and customer satisfaction for OEMs, distributors, and retailers.
RA-PaaS is a completely new worldwide market segment that Blubirch invented. Retailers and OEMs are working with Blubirch to optimise their returns process, from consumer initiation of returns, in-warding into the warehouse, automated testing and grading, and intelligent disposition decisions, since an increase in returns is eating away at retailer profits. It is an honour for Blubirch to provide some of the biggest merchants in the world with what industry analysts have called a best-in-class solution.