Funding Alert
Supply chain startup Prozo raises Rs 45 crore in funding led by Sixth Sense Ventures
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ByStartupStory | February 14, 2023
Prozo, a company that offers end-to-end supply chain solutions, has secured Rs 45 crore in Pre-Series B funding through a mix of equity and debt financing. The funding round was led by Sixth Sense Ventures, along with JAFCO Asia and other notable investors. This investment round serves as a preliminary stage to a bigger Series B funding round planned for FY 23-24.
According to Prozo’s Founder and CEO, Ashvini Jakhar, the recently raised funds will be utilized to extend the company’s customer base, logistics network, and warehousing facilities.
Additionally, the company intends to enhance the Prozo Warehousing and Logistics (PWLP) SaaS platform. “We had a year of continuous implementation and swift expansion, and Sixth Sense Ventures played a vital role as our partner in this journey. Their backing, including capital, network, and strategic advice, has been priceless,” Jakhar stated.
Prozo has garnered a total of Rs 131 crore from investors so far. The company has expanded its warehousing network and customer base ten times since its last funding round. Nikhil Vora, a representative from Sixth Sense Ventures, commented, “Prozo has grown faster than our expectations, and in a responsible manner, since our previous investment in March 2022.
Prozo has secured the trust of large corporations and rapidly-growing direct-to-consumer brands, such as Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP, and Vahdam, to manage their supply chain operations.”
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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