B2B marketplace for providing packaging solution for e-commerce, logistics, cosmetics and others, Bizongo has raised $30 million in its Series C round led by Switzerland-based hedge fund Schroder Adveq.
Existing investors B Capital, Accel, Chiratae Ventures and IFC also took part in the financing round. The fresh round comes for the firm after a gap of twenty months when it had raised $22 million in Series B round led by B Capital Group.
The Mumbai-based startup will deploy the capital to ramp up technology, expand into newer sectors like pharma packaging, and increase its adoption across India.
With over 250 employees, Bizongo currently caters to more than 350 clients and associated with 750 manufacturing partners across sectors to weed out existing pain points in $70 billion worth packaging industry.
The four-year-old startup designs, develops and procures packaging solutions for e-commerce, FMCG. Its product portfolio includes Design Square, Artwork Flow and Procure Live.
Bizongo mainly takes care of the entire packaging value chain and helps clients to reduce their packaging material procurement cost by 2-5%. It also ensures better production planning for its supply partners.
Founded by Aniket Deb, Sachin Agrawal and Ankit Tomar, the company clientele base counts Flipkart, Amazon, Myntra, Swiggy, BigBasket, Curefit, FirstCry, Jio, Nykaa, among several hundred others.
The lead investor Schroder Adveq in this round is one of the leading global private equity asset managers which has $10 billion AUM. Its limited partners consist of pension funds, insurance companies, endowments, family offices, and other financial institutions located in Europe, North America, and the Asia-Pacific region.
