Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo.
Jafco Asia and high net worth individuals also participated in the round.
The funds will be used to expand Prozo’s warehousing and fulfilment footprint, client base, and technology and analytics capability, the statement said.
“By 2025, India’s e-commerce market is expected to cross USD 200 billion, and there would be nearly 340 million e-commerce customers.
“We are excited about the pivotal role Prozo will play as a tech-driven integrated supply chain partner to these companies,” Sixth Sense Ventures founder Nikhil Vora said in the statement.
Prozo clients include Reliance JioMart, McGraw Hill, Lavie, WinMagic Toys and many other DTC brands across more than 10 categories.
“Deeper penetration of e-commerce and proliferation of brands have led to strong tailwinds for the business that has been growing close to 40 per cent month-on-month. We are elated to join hands with Sixth Sense and leverage their expertise and network in the consumer universe,” Prozo founder and CEO Ashvini Jakhar said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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