Dollars

Bizongo, a B2B company for material packaging, has closed its Series C funding round at USD 51 million on Monday 26th April 2021.  The company has raised a mixed amount of debt and equity, which shows its fueled growth. 

The latest investment in this Series C is made by the Commonwealth Development Corporation (CDC), its owned by the Uk government and the Addventures under the Siam Cement Group based in Thailand. Last January, Bizongo raised nearly USD 26 Million from Bruno Raschle and Schroder Adveq in the Series C round. Although the company has grown its funds up to USD 51Million, it also has pulled USD 15 million in debts from TradeCred, IDFC Bank, Trifecta Capital, and Strides. 

With all this fund, Bizongo has grown, they have planned to expand their domain into new sectors, which are textile and apparel. They have also intended to extend their offerings in the market of South-East Asia.

The company is witnessing a good and positive workflow, which hasn’t been noticed in B2B companies in the last two quarters.

About Bizongo:

Bizongo Logo

Bizongo, started in 2015, essentially helps businesses to develop, deliver and packaging the product. They fill the supply chain gap by helping their B2B customers. Bizingo is started by three IIT graduates Aniket Deb, Ankit Tomar and Sachin Agrawal. They provide the facility of packaging everything from retails to pharmaceutical industries. 

The firm currently operates in cities like Bengaluru, Delhi and Mumbai. Some of the famous clients of Bizongo are FirstCry, Myntra, and Future Group. The company aims to go beyond connecting sellers to buyers and strives to offer more facilities in future. 

Bizongo has grown profitable, as it started from USD 6.6 K to USD 0.1 Billion, they have raised more than three times. 

About Investors :

CDC

CDC logo

CDC Group plc is a finance development institute owned by the UK government, with shareholding duties managed by Shareholder executives. Since 2011 they have intended to extend and focus on emerging markets of south Asian and African countries. It was founded in the year 1948, with its headquarters in London, Uk.

Addventures

Addventures Logo

Addventures is backed by one of the largest industrial unions in South-East Asia, SCG. They intend to invest and create valuable partnerships in Industries with B2B companies.  Having its headquarters in Thailand, Addventures has extensively made its operations run well. Addventures has made a few massive contributions to digital transformation in SE Asia. It has all-over 300+ subsidiary companies, USD 13 Billion of market capitalisation. Their asset value of $4.3 Billion outside of Thailand.

Words from the CEO:

“In terms of business expansion, we are replicating the digital services model in emerging markets of Southeast Asia which have similar supply-demand dynamics,” –  Aniket Deb, CEO Bizongo.

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.


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