Exclusive: Increff co-founder Romil Jain quits

Romil Jain, co-founder and former Chief Technical Officer of SaaS startup Increff, has left the firm, sources aware of the development told Entrackr.

“Jain left Increff late last year and he’s likely to embark on a new entrepreneurial journey,” said one of the sources requesting anonymity.

Before founding Increff in 2016, Jain worked as a Chief Architect and Principal Engineer at DevFactory and Computer Associates. He co-founded Increff with Rahul Jain and Anshuman Agarwal. 

According to sources, Jain is expected to announce his new project soon.

Increff has declined to comment on the story.

This development coincides with the elevation of Vishal Raj as the new co-founder of the company. Raj, who has been with Increff for over seven years, is the current CTO of the company.

Increff helps fashion brands and retailers optimize inventory management and boost sales velocity by 2 to 3 times through its omnichannel and merchandising platforms. It has tied up with over 700 brands worldwide, helping them streamline inventory, warehousing, and order fulfillment across 35 countries.

In February 2022, the Bengaluru-based company raised $12 million in its Series B funding round led by TVS Capital Funds, Premji Invest, and Binny Bansal’s 021 Capital. In total, it has secured around $17 million.

According to TheKredible, Increff reported a 5.8% increase in its operating revenue to Rs 90 crore in FY24, compared to Rs 85 crore in FY23. During the fiscal year ending March 2024, its losses declined by 29% to Rs 34 crore from Rs 48 crore in FY23.