Supply Chain Start-up Prozo Raises INR 45 Crore in Pre-Series B Funding Round to Deepen its Warehousing and Logistics Platform
– Sixth Sense Ventures is leading the round, along with co-leader JAFCO and other prominent investors.
Delhi NCR, February 14, 2023: Prozo, an Indian full-stack supply chain company, has raised INR 45 crores in a Pre-Series B round through a combination of equity and debt financing led by Sixth Sense Ventures. Other investors like JAFCO Asia also participated. The funds will be used to expand the client base, warehousing, and logistics network and deepen the Prozo Warehousing & Logistics (“PWLP”) SaaS platform. Prozo plans to have a larger Series B round in FY 23-24. The company’s warehousing footprint & client base has grown by 10X since the last funding round of INR 76 crores, led by Sixth Sense Ventures. Currently, the company provides supply chain services to ~100 brands through its network of 30 fulfillment centers. They deliver differentiated, best-in-class SLA & TAT adherence to their clients with the help of the command center, warehousing & logistics control tower.
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 fulfillment & 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 benefited 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 have 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.”
To date, the Gurgaon-based company has raised Rs 131 crore in funds since its establishment in 2015.