Blubirch Raises INR 85 Crores, Embarks on Ambitious Journey to Dominate Indian and International Reverse Supply Chain Ecosystems
Blubirch is a leader and pioneer in the SaaS and AI-based automation-driven reverse supply chain management platform — Returns Automation and Monetisation Platform — that helps retailers, e-commerce players, brands, marketplaces, and OEMs to improve revenue, increase profits, and enhance customer experience. Blubirch’s solutions suite helps stakeholders across the reverse supply chain to identify invalid returns at source and manage the automated processing of returns at scale, including — customer returns [online/offline], dealer returns, e-commerce returns — as well as warranty claims, trade-in [exchange] returns, lease returns or internal returns.
Blubirch is pleased to share that it has secured a total fundraise to date of US$ 10.2million [INR 85crores] with the unique fundraise in this particular round to the tune of US$ 6.37 million [INR 53 crores].
Blubirch was founded by three IT veterans — Sapan Jain, CEO, Blubirch[Former Head of IBM Global Financing – India/Asia Pacific]; Jeby Cherian, Chairman and Chief Operating Officer, Blubirch [Former Managing Partner, IBM Consulting – India/South Asia] and Amit Goel, Chief Business Officer and Head of International Expansion, Blubirch [Former Director, Technosoft Corporation].
Retailers and OEMs have been grappling with the rising volume and value of returns across their channels. It is estimated that inefficiencies in managing customer and warranty returns have a 25% impact on the operating margins for both retailers and OEMs. Blubirch’s solutions have helped retailers and OEMs automate the returns management process, and improve transparency and compliance while helping them improve their operating margins by 300 basis points.
Blubirch’s solutions are rated as one of the top three solutions globally by analysts and currently, they count India’s largest retailers and e-commerce companies among their clients.
The successful closure of this funding round is due to keen interest evinced by multiple institutional and venture capital investors who are driven by their primary investment philosophy and logic to invest in high-tech, innovation-driven scalable enterprise SaaS platforms and businesses that have a strong client portfolio, steady and growing revenue pipelines, and proven leadership teams. The two strategic and principal investors leading this Series A round are Cornerstone Ventures[CSVP Fund] and Capital2B. The new market category created by Blubirch — Returns Automation Platform as a Service [RA–PaaS] has the potential to reach US$50 billion by FY29–30.
Speaking on this investment, Abhishek Prasad, Managing Partner, Cornerstone Venture Partners Fund, said “We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs’ decisions on the disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply chain for its customers, taking the value proposition beyond reverse automation! The company has come a long way and is working with quite a few marquee names in India while having started establishing its global footprint in key markets such as Middle-East and SEA.”
“Returns and warranty management is a fairly complex, often ignored and underappreciated area. Blubirch management has a deep domain understanding of this space and their platform can help retailers and OEMs deliver better customer experience and reduce working capital cycles,” said Amit Behl, Partner, Capital 2B.
This fundraise will help accelerate the company’s growth, and deepen its market presence across various retailer marketplaces and OEM ecosystems, further consolidating its position as a leader in reverse supply chain solutions in India, as well as across MENA and the Indo-Pacific in the foreseeable future.
Sapan Jain, CEO, Blubirch, expressed his enthusiasm about these developments: “We are thrilled to have secured this significant round of funding, which will empower us to continue our mission of revolutionising the reverse supply chain. The funds will be deployed towards enhancing product development, majorly increasing the acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration. A key component of our growth strategy is our international foray into the MENA–GCC market. This is a key strategic move backed thoroughly by our investors, CSVP Fund and Capital2B. It is a testament to our commitment to build a global Automated Returns Management ecosystem with international clientele in the e-commerce, retailer, and OEM marketplaces,” he said.
