Supply chain startup Prozo raises ₹45 crore in pre-series B round led by Sixth Sense Ventures
Prozoraised the funding through a combination of equity and debt financing.
- The round also saw participation from JAFCO Asia and other marquee investors.
- The funds would be used to expand its client base, warehousing and logistics network, and deepen its SaaS platform.
- The current round is a precursor to a larger series B round planned in FY24, said the company.
The current round is a precursor to a larger series B round planned in FY24 and the funds raised currently would be utilised to expand its client base, warehousing and logistics network, and deepen its Prozo Warehousing & Logistics SaaS platform, said the company in a press release.
“Prozo is like an operating system of supply chains wherein brands of all sizes can customise their supply chain, leveraging Prozo’s fulfilment and logistics network,” said Ashvini Jakhar, founder and CEO - Prozo.
The company offers supply chain services to nearly 100 brands through a network of 30 omni- channel fulfilment centres across 12 locations. Founded in 2015, the Gurgaon-headquartered company has raised ₹131 crores of funds to date. Its last round of funding, of ₹76 crore, was also led by Sixth Sense Ventures.
“Prozo has scaled faster than expected since our last investment in March 2022 in a very responsible manner. Large enterprises as well as fast-growing D2C (direct-to-consumer) brands including the likes of Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP & Vahdam entrust Prozo with their supply chain management,” said Nikhil Vora, founder and CEO, Sixth Sense.
As supply chains become more and more complex, Prozo is well-placed to become the market leader in its segment with its end-to-end supply chain capabilities, he added.
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