Inxeption, a California-based ecommerce startup offering an innovative blockchain-based business application platform to alter the way products are advertised, managed online and sold, has raised US$ 275 million in a Series E investment round led by Schonfeld Strategic Advisors on 13 January 2022.
Investors: The latest investment round featured Schonfeld Strategic Advisors as the lead investor with participation from Coatue and Bank of Montreal. The startup has managed to raise, in total, over US$ 336 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the funding round to support its growing customer base and expand its operations in global markets.
Brought to existence in 2017 by Farzad Dibachi and Terry Garnett, Inxeption’s scalable and safe digital commerce platform brings products, capital, data, and other offerings on-demand for logistics and industrial sectors. It allows all firms from any domain to boost sales, achieve operational visibility, and enable cost savings. Inxeption’s commerce collaborators obtain access to the B2B platform for selling their products. It allows them to build new digital commerce pathways, along with significant applications which integrate and simplify logistics and other functions. The company’s revenue rose by more than 400%, as its yearly revenues grew to US$ 100 million. The firm’s user base has increased to more than 1,000 customers. The company has launched services like Inxeption Financial Services and Inxeption Marketplace.
What the Founder has to say: “We are quite exhilarated about where we head towards, as we move to the fifth year of running the business. We have had a strong faith in our product from our early days. The infusion of fresh capital will help us to bolster our platform so that we can cater for our customers in the best manner.”- Farzad Dibachi, Co-Founder and CEO of Inxeption.
What the Investor has to say: “The chance to offer financial offerings online to manufacturing enterprises and their industrial users is exhilarating and runs parallel with our vision to grow good, both in life and business. We are quite positive about joining hands with Inxeption in numerous ways. We are delighted to invest our capital and wisdom in aiding such firms in meeting their financial problems.”- Eric Benedict, Managing Director and Co-Head of Global Equity Capital Markets at Bank of Montreal.
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