Arzooo

Key Highlights:

  • B2B Retail tech startup Arzooo has raised $70 Mn in its Series B funding round.
  • Arzooo plans to develop its tech infrastructure and expand business with this funding. With this investment, Arzoo has raised $83.5 Mn to date.
  • Arzooo raised $7.5 Mn in Series A funding and secured $6 Mn in debt financing.

B2B Retail tech startup Arzooo has raised $70 Mn in its Series B funding round. The B2B startup has raised funding from Japan-based SBI Investment and Trifecta Leaders Fund.

Arzooo was founded in 2018 by Khushnud Khan and Rishi Raj Rathore. Both were former executives of the popular eCommerce brand Flipkart. The Bengaluru-based startup provides retailers with an online technology platform that helps them run their online business efficiently as well as increase their sales. This helps retailers gain access to diverse SKUs (stock-keeping units) across well-known and emerging brands.

As a leader in online retail, Azooo helps retailers compete against Amazon and Flipkart. In addition to providing retailers with a wide inventory selection, it also provides financial solutions and delivery services.

Existing investors including Celesta Capital and 3 Lines VC and new investor – Doordash’s founder Tony Xu also participated in the round.

Arzooo plans to develop its tech infrastructure and expand business with this funding. With this investment, Arzoo has raised $83.5 Mn to date.

The co-founder and CEO of Arzooo, Khushnud Khan said, “With this round oversubscribed by 1.4x, Arzooo is pleased to welcome a new set of investors. While we greatly appreciate the interest from the investor community, we’re particularly excited to bring on board some incredible people with a vision to transform offline retail.”

According to the startup, Aarzoo has assisted over 30K offline retailers in 22 Indian states to grow their online businesses in the eCommerce sector.

Earlier this year, Arzooo raised $7.5 Mn in Series A funding and secured $6 Mn in debt financing.

The company is backed by Trifecta Capital, Celesta Capital, 3 Lines VC, Zoom’s Eric Yuan, Silicon Valley’s Bill Tai, UAE-based Jabbar Internet Group, and WRVI Capital.

It competes with startups like DotPe, SignCatch, and Delivery acquired-Primaseller, in the retail tech segment.

India’s retail and eCommerce segments are expected to grow 3x by 2024, says a report. Additionally, the country’s unorganised retail market is expected to grow by 40% within the next two years.

For More Startup and Funding-related News Visit Alphafirm.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Array