Increff raises $12 mn in latest funding round led by Premji Invest, others

Bengaluru-based supply chain management startup Increff has raised $12 million in a Series-B funding round. TVS Capital Funds, Premji Invest, Binny Bansal's 021 Capital, and six existing angels participated in the round, the company said in a statement on Saturday.

Focusing on global expansion, Increff said it will use the funds for setting up offices and strengthening the local teams in the US and European region. Furthermore, the company will invest the capital raised in adding visionary products and services to its portfolio for supply chain optimisation.

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Commenting on the capital raise, Rajul Jain, CEO & Co-Founder said, "Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products."

Gaurav Sekhri, Principal, TVS Capital Funds said, "Increff marks our first investment from our third fund in the Indian SaaS & technology space that the fund is increasingly focusing on."

Talking about the journey with Increff for over three years, Sailesh Tulshan, Founder - 021 Capital stated, "For over 3 years we have been investment partners with Increff in their exciting journey to transform merchandising and create innovative solutions for global supply chains."

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