B2B retail-tech startup firm, Arzooo has reportedly bagged $6 million from Trifecta Capital, a venture debt fund in India, to strike a sales run rate of over $500 million in the current year.

Apparently, the Bengaluru-based company raised nearly $7.5 million in its Series A round that was led by WRVI Capital and Eric Yuan, founder of Zoom Video, among other prominent investors in October 2020. In addition, its early backers comprise 3Lines Venture Capital, a U.S.-based equity firm, and Jabbar Internet of the United Arab Emirates.

For the record, Arzooo was founded by Khushnud Khan and Rishi Raj Rathore, ex-Flipkart colleagues with an IIT-Kharagpur alumnus, in 2018. The start-up has enabled over 7,000 partner stores to expand their sales and sustain competition from giant sellers and online marketplaces like Amazon, Flipkart, ShopClues as well as vertically integrated startups, including Zefo.

Furthermore, the B2B firm currently operates across 10 Indian cities that are located across the south, north, and east regions. It is also working to soon scale up the operations in Mumbai, as well as the rest of Maharashtra and Gujarat.

As per reliable sources, Arzooo has revealed that it would channelize the funds to bolster the supply chain infrastructure systems with technologies and operational capabilities in order to serve over 50,000 retail stores whilst enhancing their speed of deliveries, service experience, and operational efficiencies.

The CEO and co-founder of Arzooo.com, Khushnud Khan revealed in a statement that the raised capital would be used to foster the development of the start-up’s supply chain capabilities with network expansion and a higher scale-up to deliver enhanced services to their partner stores.

Meanwhile, the managing partner of Trifecta Capital, Rahul Khanna, addressed neighborhood stores as an incredible channel that could drive digitization, inventory expansion as well as price competitiveness in comparison to online retailers. He further disclosed that Arzooo had witnessed strong demand recovery following the Covid-19 lockdown and his team would continue its support to the retail company to expand its footprint in the coming years.

Source Credits:

https://economictimes.indiatimes.com/tech/funding/arzooo-a-retail-tech-startup-raises-6-million-from-trifecta-capital/articleshow/81181864.cms