Retail tech firm Arzooo bags extended Series B funding from existing investors
The development follows Arzooo's $70-million Series B funding that it raised in June 2022, which attracted global and Indian VCs including SBI Investment, 3 Lines, Trifecta, and DoorDash founder Tony Xu.
Bengaluru-based, which enables brick-and-mortar stores to go online, has raised additional capital from existing investors as part of its extended Series B funding round. The deal size and investors were not disclosed.
The startup secured $70 million in Series B funding in June 2022 from a group of investors including SBI Investment, 3 Lines, Trifecta Capital, and DoorDash Founder Tony Xu.
With the additional funding, Arzooo plans to strengthen its technological infrastructure, improve operational efficiency, and deepen focus on the consumer durables market in India, the company said in a statement.
Founded in 2018 by former Flipkart executives Khushnud Khan and Rishi Raj Rathore, Arzooo aids offline electronic stores by giving them access to competitive prices and their network of logistics, enabling them to drive up sales conversions in-store.
The company recently launched gostor.com—a consumer platform to help take partner offline stores online. The B2C platform allows retailers to sell their goods directly to consumers and grow their business by participating in online sales and reducing dependence on store footfalls.
It also expanded its stake in white goods with the launch of a consumer durable brand NU last year.
“Arzooo's deep vertical integration in consumer electronics platform empowers retailers with access to a diverse range of products from all brand and enabling them to scale their businesses without the constraints of traditional sourcing or selling,” the firm said in a statement.
Edited by Affirunisa Kankudti