[Funding alert] Retail tech platform Arzooo secures $6M from Trifecta Capital
Bengaluru-based B2B retail tech firmon Wednesday announced that it has raised $6 million from .
According to the press statement, the startup will leverage the fresh funds for market expansion and scaling its logistics and operational capabilities.
Arzooo also plans to ramp up its supply chain infrastructure with technology and operational capabilities to increase its reach across the country to serve over 50,000 retail stores that it plans to work with and improve the speed of delivery, service experience, and operational efficiency.
Khushnud Khan, CEO, Co-founder of Arzooo.com said,
“Our growth trajectory has been phenomenal and this capital will be used to fuel the same with the network expansion and scaling up our supply chain capabilities to deliver better services to our partner stores.”
Founded in 2018 by former Flipkart colleagues and IIT-Kharagpur alumni Khushnud Khan and Rishi Raj Rathore, the platform is disrupting the offline retail space by empowering offline stores to compete effectively with larger ecommerce websites.
The B2B startup claims to have witnessed strong growth through the COVID-19 pandemic and is aiming to hit a sales run rate of $500 million this year.
At present, it is operational across south, north, and east India, and plans to scale its operations in Mumbai, the rest of Maharashtra, and Gujrat soon.
Rahul Khanna, Managing Partner, Trifecta Capital added,
“We're proud to partner with Arzooo, a fast growing retail tech platform in the consumer durables space. Neighbourhood stores are a fantastic channel to drive digitization, inventory expansion and price competitiveness over online retailers. Arzooo has seen a strong demand recovery post the Covid-19 lockdown. We look forward to continue supporting them as they grow their footprint going forward”.
Last October, Arzooo raised a Series A round of $7.5 million led by WRVI Capital, along with its existing investors. Soon after in November 2020, the startup received an investment from , which also marked Eric’s first-ever investment in an Indian tech startup. founder Eric Yuan
Edited by Saheli Sen Gupta