With the recent capital, the corporate plans to scale its forte in know-how, operations and high quality of service
Final month, Arzooo has raised $7.5 Mn in Sequence A funding led by WRVI Capital
Its rivals embrace Amazon, Flipkart, ShopClues and vertically built-in startups comparable to Zefo specializing in home equipment
Bengaluru-based retail tech startup, Arzooo has raised an undisclosed quantity from Zoom assembly app’s founder Eric Yuan and Silicon Valley’s enterprise capitalist, Invoice Tai.
With the recent capital, the corporate plans to scale its forte in know-how, operations and high quality of service. It’ll additionally channelise funds to ramp its B2B platform – ‘Go Store’.”
Final month, Arzooo raised $7.5 Mn in Sequence A funding led by WRVI Capital which noticed participation from its present traders 3Lines Enterprise Capital, and UAE’s Jabbar Web Group and others.
Based by Khushnud Khan and Rishi Raj Rathore in 2018, Arzooo is a retail know-how platform that empowers retail shops in opposition to ecommerce corporations. It at present operates in additional than 20 cities which incorporates Bengaluru, Delhi-NCR, Chennai, Kolkata and Hyderabad amongst others.
Arzooo is Eric’s first funding in India and Invoice Tai has 22 IPOs to his credit score and was among the many traders in Twitter, Zoom Video, Want.com, Canva, and ColorGenomics, the corporate mentioned in a press release.
Commenting on the announcement, Khushnud Khan, cofounder of Arzooo.com mentioned, “Having one of the biggest Tech entrepreneurs, who has built a $100 billion technology company with Zoom, is a great addition to the team. Alongside the investment, Eric’s entrepreneurial journey and experience will be a great intellectual capital for us”.
“Arzooo’s ‘Go Store’ is the unique technology platform that solves the big problem of selection; price and complex supply chain & sourcing for offline retailers. The company aims to serve 50K retailers in the next year through its expansion.
Arzooo had recently announced the launch of its digital credit lending product, Arzooo Credit for offline retailers that offers working capital to Arzooo’s partner stores.
Its competitors include Amazon, Flipkart, ShopClues and vertically integrated startups such as Zefo focusing on appliances.
The company claims to have over 5K partner stores since its inception and is spread in more than 10 cities across the country.
Bill Tai said, “Arzooo has proven its ability to create massive efficiency for operators across thousands of stores by leveraging data to create network effect efficiency in supply chain, distribution, and logistics for their network of retailers. The result is better selection and pricing for customers throughout the system. This investment should fuel a 10X growth for Arzooo as it accelerates strongly.”
