Ecommerce Roll-up Company, UpScalio raises $15M in a Pre-series B round via Gulf Islamic Investments
- ByStartupStory | March 15, 2022
UpScalio, a Gurugram-headquartered ecommerce roll-up company, announced its raising of around $15 million in a pre-Series B round in a mix of debt and equity, led by UAE-based Gulf Islamic Investments (GII). The round also saw participation from lenders including Northern Arc and Unity Bank.
After backing companies like 1-India Family Mart and Bombay Shaving Company, this is GII’s sixth investment in India. In 2021 GII with an AUM of nearly $3 billion globally had announced that it will be investing around $500 million across consumer technology, consumer brands, and healthcare sectors in the Indian market.
This round of funding followed UpScalio’s Series A round of August 2021 of about $42.5 million, which was led by Presight Capital. The company confirmed that the current round was concluded at a higher valuation without divulging the numbers.
UpScalio, similar to other ecommerce roll-up companies, acquires majority stakes in high growth online-first brands and over a period of two to three years, helps them scale their business by 5-10X giving the founders an exit.
Across utility categories including home and kitchen, furniture, auto accessories, lawn and gardening, among others, UpScalio currently has a portfolio of 13 brands. The current annualised GMV (Gross Merchandise Value) of Rs 300 crore has been claimed by the company from its portfolio.
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