India, Bengaluru-based B2B retail tech platform Arzooo, which is transforming SMEs in the electronics space with its flagship “Go Store” product, raised US$ 6 million on 23 February 2021.
Investors: Arzooo raised funding from venture debt fund Trifecta Capital. It had raised US$ 7.5 million in its Series A round in October last year which was led by WRVI Capital, Zoom Video founder Eric Yuan and existing investors. Its early backers include US-based 3Lines Venture Capital and Jabbar Internet of the United Arab Emirates.
Purpose of funding: Arzooo is aiming to hit a sales run rate of US$ 500 million this year. The funds raised will be utilized to fuel growth, carry out network expansion and scale up its supply chain infrastructure with technology and operational capabilities to deliver better services to more than 50,000 partner stores and improve the speed of delivery, service experience and operational efficiency.
Founded in 2016 by ex- Flipkart colleagues and IIT-Kharagpur alumni Khushnud Khan and Rishi Raj Rathore, Arzooo is a B2B commerce platform that is powering brink and mortar retail stores with technology. Its Technology platform enables partner stores to buy consumer electronics at the best prices and equips them to offer a much bigger range, without the need to invest in all in inventory. It is helping its partner stores to overcome the limitations of physical retail. It also offers attractive payments and financing solutions to help retailers increase their sales and in-store conversions.
Arzooo Platform Features:
· Buy at the best price, Improve margins by 15-25%
· Stock Less, Sell More
· Create and promote offers to prospects
· Quick delivery with Arzooo Express
Arzooo is currently operating in 10 cities in the south, north and east India region. It is planning to scale its operations in Mumbai and Gujarat. The company claims that it has enabled more than 7,000 partner stores to grow their sales and also compete with big sellers like Amazon, ShopClues, Flipkart etc.
What investors have to say: 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 continuing to support them as they grow their footprint going forward.” — Rahul Khanna, Managing Partner at Trifecta Capital.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!