Retail-tech startup Arzooo has secured $6 million from Trifecta Capital. The startup will leverage funds for market enlargement and scaling its logistics and operational capabilities.
Founded by ex-Flipkart colleagues and IIT-Kharagpur alumni Khushnud Khan and Rishi Raj Rathore in 2018, Arzooo.com is a retail know-how enterprise that empowers bodily retailers to compete and develop in opposition to e-commerce platforms like amazon and Flipkart.
The enterprise claims its B2B enterprise witnessed robust progress via the pandemic and the corporate is aiming to hit $500 million gross sales run charge this 12 months. Arzooo, which presently operates throughout South, North and Eastern India, will now be scaling its operations in Mumbai, remainder of Maharashtra and Gujarat quickly.
The startup may also channelize funds to ramp up its provide chain infrastructure with know-how and operational capabilities to extend its attain throughout the nation to serve over 50,000 retail shops that it plans to work with and enhance the velocity of supply, service expertise and operational effectivity.
Commenting on the funding, Khushnud Khan, co-founder and CEO of Arzooo.com, says, “Our growth trajectory has been phenomenal and this capital will be used to fuel the same with the network expansion and scaling up our supply chain capabilities to deliver better services to our partner stores.”
Rahul Khanna, Managing Partner at Trifecta Capital, says, “We are proud to partner with Arzooo, a fast growing Retail Tech platform in the Consumer Durables space. Neighbourhood stores are a fantastic channel to drive digitization, inventory expansion and price competitiveness over online retailers.”
According to Khanna, Arzooo has seen a robust demand restoration publish the Covid-19 lockdown. “We look forward to continue supporting them as they grow their footprint going forward”.
The startup in October final 12 months introduced its Series A fundraise of $7.5 million led by WRVI Capital together with its current buyers.
Soon after, in November 2020, Arzooo had one other funding coming from Zoom Video founder Eric Yuan, this additionally marked Eric’s first ever investments in an Indian tech startup.
With over 7,000 associate shops unfold throughout 10-plus cities, Arzooo claims it allows a associate retailer to beat broader limitations of bodily retail and provide its clients the biggest stock choice, greatest worth and quickest supply, with out them having to inventory every thing. This is backed by engaging funds and financing options to drive up gross sales and conversion in- retailer.
