Start-up Evenflow closes pre-series A round with $5 million
The e-commerce rollup venture has already acquired seven brands and launched two private labels; aims to develop more than 20 such Indian brands over the next 12-18 months.
- May 5, 2022,
- Updated May 5, 2022 12:27 PM IST
Evenflow Brands, an e-commerce rollup that plans to scale over 100 digital-first brands, has announced closing its pre-series A round of $5 million.
The start-up partners with promising digital-first brands that sell on e-commerce marketplaces like Amazon, Flipkart, Meesho and JioMart among others and helps the ventures to scale profitably.
This funding round saw participation from Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket along with marquee angel investors including Emil Michael (ex-Chief Business Officer, Uber), Vijay Shekhar Sharma (Founder & CEO, Paytm), Kunal Shah (Founder & CEO, CRED), Nimesh Kampani (Co-founder & CEO, Trica), Sandeep Varaganti (CEO, Reliance Retail), Abhishek Nag (ex-Director, Netflix), Sony Joy (ex-VP, Truecaller), MageHold (Hong Kong based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and a few others.
The start-up will use the funds raised in this fresh round to expand its team size, acquisition and enhance its tech and operations.
Evenflow was founded by former Uber executives Utsav Agarwal and Pulkit Chhabra in May 2021. It acquires and scales third-party sellers on marketplaces through operational intelligence across the value-chain -- marketing, branding, cataloguing, supply chain, sourcing, channel expansion, etc.
“We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months," said Agarwal, co-founder & CEO.
"Our team is committed to scaling these fantastically built small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem," he added.
The start-up aims to develop over 20 such Indian brands over the next 12-18 months.
Read More: Attrition-hit Cognizant adds 9,800 employees for Q1, CY22
Read More: India's business activity sees sharp spike to 57.9 in Apr from 53.6 in Mar
Evenflow Brands, an e-commerce rollup that plans to scale over 100 digital-first brands, has announced closing its pre-series A round of $5 million.
The start-up partners with promising digital-first brands that sell on e-commerce marketplaces like Amazon, Flipkart, Meesho and JioMart among others and helps the ventures to scale profitably.
This funding round saw participation from Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket along with marquee angel investors including Emil Michael (ex-Chief Business Officer, Uber), Vijay Shekhar Sharma (Founder & CEO, Paytm), Kunal Shah (Founder & CEO, CRED), Nimesh Kampani (Co-founder & CEO, Trica), Sandeep Varaganti (CEO, Reliance Retail), Abhishek Nag (ex-Director, Netflix), Sony Joy (ex-VP, Truecaller), MageHold (Hong Kong based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and a few others.
The start-up will use the funds raised in this fresh round to expand its team size, acquisition and enhance its tech and operations.
Evenflow was founded by former Uber executives Utsav Agarwal and Pulkit Chhabra in May 2021. It acquires and scales third-party sellers on marketplaces through operational intelligence across the value-chain -- marketing, branding, cataloguing, supply chain, sourcing, channel expansion, etc.
“We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months," said Agarwal, co-founder & CEO.
"Our team is committed to scaling these fantastically built small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem," he added.
The start-up aims to develop over 20 such Indian brands over the next 12-18 months.
Read More: Attrition-hit Cognizant adds 9,800 employees for Q1, CY22
Read More: India's business activity sees sharp spike to 57.9 in Apr from 53.6 in Mar