Supply chain technology start-up Prozo raises INR 45 crore funding in Pre-Series B funding round
Prozo, one of India’s fastest-growing ‘full-stack’ supply chain companies, has raised INR 45 crores in a Pre-Series B round via combination of equity and debt financing led by Sixth Sense Ventures. JAFCO Asia & other marquee investors also participated. The funds raised in this Pre-Series B round would be utilized to expand its client base, warehousing and logistics network, and deepen its Prozo Warehousing & Logistics (“PWLP”) SaaS platform. This round is also a precursor to a larger series B round planned in FY 23-24.
Prozo’s warehousing footprint & client base has grown by 10X since its last funding round of INR 76 crores, led by Sixth Sense Ventures. The company is currently offering supply chain services to ~100 brands through its network of 30 omni-channel fulfilment centres spread over 15,00,000 square feet across 12 locations. The company is democratizing access to ‘Enterprise Grade Supply Chains’ for their B2B, B2C and D2C clients, leveraging their command centre, warehousing & logistics control tower, Prozo is able to deliver differentiated, best-in-class SLA & TAT adherence to its clients.
Speaking about the latest round of funding, Ashvini Jakhar, Founder and CEO – Prozo said: “Prozo is like an operating system of supply chains wherein brands of all sizes can customize their supply chain, leveraging Prozo’s fulfilment & logistics network. Just like companies don’t set up their own servers these days but opt for AWS-like services, companies don’t need to set up their own supply chains, but opt for a full-stack, enterprise-grade, pay-per-use supply chain partner like Prozo. He added, “last year has been a year of relentless execution and rapid growth for Prozo and we benefitted hugely from a partner like Sixth Sense in our journey. Their support not just in terms of capital but also in terms of network and strategic insights has been invaluable”
Adding further, Nikhil Vora from Sixth Sense, said, “Prozo has scaled faster-than-expected since our last investment in Mar ’22 in a very responsible manner. Large enterprises as well as fast-growing D2C brands including the likes of Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP & Vahdam. entrust Prozo with their supply chain management. Supply chains are becoming more & more complex, and Prozo is well-placed to become the market leader in its segment with its end-to-end supply chain capabilities.”
The Gurgaon headquartered company was founded in 2015 and has raised Rs 131 crores of funds till date.
