Private equity-backed B2B e-commerce and supply chain enablement platform Bizongo has raised as much as $110 million in its Series D round led by New York-based Tiger Global Management.
The round that saw the participation of both new and existing investors has pegged the valuation of the company at $600 million.
While new investments have come in from CDC and IFC EAF, the company’s existing backers such as BCap, Chiratae Ventures, Schroder Adveq, IFC and Add Ventures by SCG have also topped up, per a statement issued by the company.
Manish Choksi, a member of Bizongo’s Advisory Board and the Vice Chairman at Asian Paints, has also pumped in capital in the company in his personal capacity.
The corpus raised will be used by Bizongo to ramp up its business and tech teams to develop a suite of digital services for both sides of the marketplace. Going forward, the company also plans to invest capital in nurturing its vendor partnerships as it looks to transform over 100 factories into true cloud factories through its proprietary solutions.
Bizongo, established in 2015, focuses on digitizing the massively fragmented B2B segment of made-to-order goods. It offers items such as boxes, containers, pouches and bags for a wide array of industries including food and hospitality, consumer goods and retail.
With warehouses in Mumbai, Bengaluru and Delhi, it counts BigBasket, Nykaa, Swiggy and Delhivery among its clients.