[Funding alert] Increff raises $12M in Series B led by TVS Capital Funds, Premji Invest, others

Supply chain SaaS startup Increff raised $12 million in a Series B round from TVS Capital Funds, Premji Invest, and Binny Bansal’s 021 Capital. Six existing angels also participated in this round. 

Focusing on global expansion, Increff will use the funds to set up offices and strengthen the local teams in the US and European region. Furthermore, it will invest in adding visionary products and services to Increff’s portfolio for supply chain optimisation.

Increff offers a host of SaaS-based industry-agnostic merchandising solutions and smart warehousing solutions for inventory optimisation of ecommerce, fashion, and retail brands.

As businesses around the globe begin to recover from the impact of the COVID-19 pandemic, brands are pinning their hopes on cutting-edge tech solutions to navigate through intense price pressures, inventory mismanagement issues, demand fulfilment challenges, etc. 

Increff is solving these challenges for more than 10 retail verticals. The startup has its operations in India and the Middle East, and is seeing a growing clientele in the US and Europe. 

Commenting on the same, Rajul Jain, CEO and Co-founder, Inceff, said, 

“We have been growing between 83 to116 percent YoY for the last four years. We are a  capital-efficient company, and have every internal process in place to run a very large company. We are solving retailing challenges for global brands like Puma, Adidas, Bata, Levi’s, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, etc. Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products.” 

Gaurav Sekhri, Principal, TVS Capital Funds, said, “Increff’s technology solutions are unique and built to instill flexibility for rapid growth for brands across categories. Their mindset of developing the best software products, and non-compromising approach towards customer experience with an eye on the future, make them stand out. 

Talking about the journey with Increff for over three years, Sailesh Tulshan, Founder - 021 Capital, said they have been in their journey to transform merchandising and create innovative solutions for global supply chains. They have built a strong team that has shown tremendous performance by growing product revenue 20X since then and expanded to markets outside of India with their visionary world-class products.