Prozo, a full-stack supply-chain startup, has raised about $5.4 million (Rs 45 crore) in its pre-Series B round through a combination of equity and debt financing led by Sixth Sense Ventures.
JAFCO Asia and other investors also participated in the funding. This round is also a precursor to a larger Series B round planned in FY23-24, Prozo said in a statement.
The startup will use the funding proceeds to expand its client base, warehousing, and logistics network and deepen its Prozo Warehousing & Logistics (PWLP) SaaS platform, the statement added.
Prozo claims that its warehousing footprint and client base has grown 10X since its last funding round of Rs 76 crore led by Sixth Sense Ventures in March last year. 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 Gurugram-based startup has raised Rs 131 crore to date. Its clientele includes Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP, and Vahdam.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from February 11-15, 2023.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| Prozo | Gurugram | 5,400,000 | pre-Series B | Sixth Sense Ventures | Jafco Asia | Logistics/Distribution | E-commerce |
| PhonePe | Bengaluru | 100,000,000 | – | Ribbit Capital, Tiger Global, TVS Capital Funds | – | Financial Services | Fintech |
| InsuranceDekho | Gurugram | 150,000,000 | Series A | TVS Capital Funds, Goldman Sachs Asset Management | Investcorp, Avatar Ventures, LeapFrog Investments | Insurance | Insuretech |
| Garuda Aerospace | Chennai | 22,000,000 | Series A | SphitiCap | – | Aerospace | Robotics & Drones |
| Rezolve.ai | Dehradun | 11,000,000 | Series A | SIG Venture Capital | Exfinity Venture Partners, 9Unicorns, Tri Valley Ventures | Software | AI and Machine Learning |
| Lorien Finance | Delhi | 1,800,000 | Seed | Venture Catalysts | TSM Ventures, Kunal Shah (Cred), Suhail Sameer (Ex-BharatPe), Aman Gupta and Sameer Mehta (boAt) | Financial Services | Fintech |
| Onwo | Bengaluru | 1,600,000 | Seed | Kae Capital | Whiteboard Capital, 2 am VC, Kettleborough VC, Climber Capital, Point One Capital, Mekin Maheswari, Srinivas Anumolu | Food | E-commerce |
| Penta Esports | Gurugram | 1,000,000 | – | nCore Games | – | Travel & Leisure | eSports |
| RuKart | Pune | – | – | Mumbai Angels | – | Agribusiness | Agtech |
| Indrones Solutions Private Limited | Mumbai | Corporate | 363304 | – | Aerospace | Robotics & Drones | |
| Braavoking | Gandhinagar, Gujarat | 60,313 | Angel | Dr Nirav Nanavati | – | Consumer Products | E-commerce |
| CrisprBits | Delhi | 250,000 | pre-Seed | VJ Group | – | biotechnology | biotech |
| Stable Money | Bengaluru | 4,500,000 | Series A | Lightspeed, Matrix Partners | – | Financial Services | Fintech |