Prozo raises ₹76 cr in Series A funding led by Sixth Sense Ventures
The funds will be used to expand the company’s infrastructure, tech capability and market coverage across the country.
Prozo has raised ₹76 crore in its Series-A funding round led by Sixth Sense Ventures. Jafco Asia and HNIs also participated in the round. The funds will be used to expand Prozo's warehousing and fulfillment footprint, client base, and technology & analytics capability.
Founded by Dr Ashvini Jakhar, a former lieutenant commander with the Indian Navy and ex-McKinsey & Company consultant, Prozo provides end-to-end supply chain solutions and 'Prime like' (same day, next day delivery) fulfilment to SMEs, D2C brands and enterprises on a pay-per-use model. The company has been on a hyper-growth trajectory and serves clients like Reliance JioMart, McGraw Hill, Lavie, WinMagic Toys and many other DTC brands across more than 10 categories. Prior to this round, Prozo had raised capital from Earlsfield Capital Partners LLP and other prominent angels.
Dr Ashvini Jakhar, founder and CEO, Prozo, said, "Prozo is revolutionizing the e-commerce supply chain for brands and enterprises via its full-stack, end-to-end, multi-channel fulfilment solutions. Deeper penetration of e-commerce and proliferation of brands has led to strong tailwinds for the business that has been growing close to 40 percent month-on-month."
Nikhil Vora, founder, Sixth Sense Ventures, said, "Prozo is solving a key problem in a very large market. By 2025, India's e-commerce market is expected to cross $200 billion, and there would be nearly 340 million e-commerce customers. Hundreds of enterprises, thousands of D2C brands and over a million SMEs will compete to serve this humongous customer base. We are excited about the pivotal role Prozo will play as a tech-driven integrated supply chain partner to these companies. I have personally known Ashvini for a long period and feel proud to now be able to participate in his dream and journey of Prozo."
Supriya Singh, Director, Jafco Asia, added, "Prozo is building a 'fast-fulfilment highway' for brands by unifying digital and physical infrastructure elements of the supply chain. Their end-to-end supply chain play is firmly anchored around warehousing and fulfilment, thus making them very efficient in their go-to-market. We are glad to support them in this journey towards the transformation of Indian e-commerce supply chains."
Prozo is an e-commerce enabler & accelerator for SMEs, D2C brands and Enterprises, offering nationwide multi-channel warehousing, freight, supply chain technology and e-commerce distribution services to its clients.
Dexter Capital Advisor was the exclusive financial advisor to Prozo in its Series-A fundraise.