Supply Chain Technology Startup Prozo Raises Rs 45 Cr In Funding
Prozo, a full-stack supply chain company, has secured Rs 45 crore in a Pre-Series B funding round via a combination of equity and debt financing. This funding round is also a precursor to a larger Series B round planned in FY 23–24.
Led by Sixth Sense Ventures, the funding round also saw participation from JAFCO Asia and other marquee investors.
As per the startup, the raised funds will be used to expand the company’s client base, warehousing and logistics network. The raised funds will also be used to further develop Prozo Warehousing and Logistics (PWLP) SaaS platform.
Prozo | Supply Chain Technology Startup
Founded by Dr Ashvini Jakhar in 2015, Prozo is a Gurugram-based startup that enables fast fulfilment through its pan-India warehousing and freight network. The startup offers integrated warehousing, freight, supply chain technology & e-commerce retail services for B2B, B2C & D2C supply chains.
Speaking about the development, Ashvini Jakhar, Founder and CEO of Prozo, said,
“Last year has been a year of relentless execution and rapid growth for Prozo, and we benefited hugely from a partner like Sixth Sense in our journey. Their support, not just in terms of capital but also in terms of network and strategic insights, has been invaluable.”
The Gurugram-based startup supports companies of all sizes across B2B, D2C, and B2C segments by offering them enterprise-grade supply chain capabilities on a pay-per-use model.
Currently, the startup provides supply chain services to 100 brands through its network of 30 omnichannel fulfilment centres spread across 12 locations. In March 2022, Prozo raised $10 million in a Series A funding round led by Sixth Sense Ventures, with participation from Jafco Asia and HNIs.
To date, Prozo has raised Rs 131 crore. And since its last funding round, its warehousing footprint and client base have grown tenfold.
Commenting on the development, Nikhil Vora from Sixth Sense said,
“Prozo has scaled faster than expected since our last investment in March 22 in a very responsible manner. Large enterprises, as well as fast-growing D2C brands, including the likes of Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP, and Vahdam, entrust Prozo with their supply chain management.”
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