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JM Financial leads Rs 375 mn Series B round investment in Emiza

Proceeds from the investment will support augmentation of the existing technology infrastructure, foray into last-mile operations, and expansion of the company’s operations into other geographies

JM Financial leads Rs 375 mn Series B round  investment in Emiza
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Darius Pandole, Managing Director & CEO, PE & Equity AIFs, JM Financial

JM Financial Private Equity (the "Fund") has led the Rs 375 million, Series B funding round in a Mumbai-based warehousing and fulfillment services provider, Emiza Supply Chain Services Pvt. Ltd. ("Emiza" or the "Company"), to fund the company's current expansion plans.

Mayfield India – an existing investor in Emiza – has also participated in the Series B fundraise. Proceeds from the investment will support the augmentation of the existing technology infrastructure, foray into last-mile operations, and expansion of the company's operations into other geographies.

Emiza caters to the warehousing and fulfillment needs of direct-to-consumer ("D2C") brands as well as SMEs and large corporates selling online. Through its network of warehouses in eight cities across India, the company provides services including storage, picking, packing, and labeling. The company has over 100 customers which include leading D2C brands as well as large enterprises and SMEs across beauty and personal care, fashion and accessories, home and kitchen, and food and beverages.

The company was founded by Ajay Rao who has deep domain expertise in logistics through decades of experience across India and the US. He is supported by a management team led by Jitendra Kumar and Arvind Shivkumar, both having extensive logistics experience.

Commenting on the investment, Darius Pandole, Managing Director & CEO, PE & Equity AIFs, JM Financial said, "India's e-commerce market has witnessed a massive surge in terms of demand and purchase over the last few years across metros and Tier II & III cities, driven by the growing internet penetration and smartphone usage, and change in the buying behavior of consumers. To drive business and leverage the emerging growth opportunities, D2C brands and other companies selling online need to provide a superior customer experience. That's where Emiza comes in. We believe the fundamental shift in consumers' purchasing behavior, and their penchant for D2C and online retail is here to stay. With a strong emphasis on enhancing customer experience, increasing efficiency, and reducing cost, Emiza has developed a strong value proposition. We believe that Emiza will eventually emerge as a leading player in the fulfillment services segment."

Commenting on the capital raise, Ajay Rao, CEO, Emiza said, "Our company has scaled up rapidly over the last three years, and we envisage even faster growth over the next few years. This growth capital infusion and partnership with a seasoned investor like JM Financial Private Equity will help us accelerate our current expansion plans and add other service lines to the business, including a last-mile platform to offer a complete suite of services to our customers. The founders and senior management have a deep understanding of the logistics industry, and given our strong customer-centric approach, we are confident of creating a leader in the e-com fulfillment service industry in India."

Commenting on their follow-on investment, Vikram Godse, Managing Partner, Mayfield India said, "We are happy to continue to support Ajay and his whole team at Emiza in their journey to become the leader in the D2C e-commerce fulfillment market. We believe the company has a strong value proposition which allows both its small and large D2C brand customers to focus on product development and market growth while Emiza completely takes over the function of order fulfillment." This is the tenth investment from Fund II, and is in line with its stated strategy of investing in growth-oriented companies in the mid-market space.

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