Funding Alert

Bizongo raises $110 million in a funding round led by Tiger Global.

• ByStartupStory     |    December 7, 2021

According to regulatory filings, e-commerce focused B2B packaging company Bizongo has raised Rs.825 crores($110 million) in a Series D funding round led by New-York based investment firm, Tiger Global.  

While Tiger Global led the round by an investment of $45 million, B Capital and CDC have invested $17.5 million each and Schroder Capital invested an amount of $8 million according to the company’s regulatory filings. Other investors in the round include Schroder Chiratae Venture, Adveq, Bruno E. Raschle, Add Ventures Capital, Castle Investment, and Satyadharma Investments.

After the investment round, new investor Tiger Global has acquired a 7.5% stake in Bizongo.

Accel has emerged as the largest stakeholder in Bizongo with 16.84%. IFC, B Capital and Chiratae are the other double-digit stakeholders in the company with 12.06%, 11.97% and 11.52% respectively.

According to an analysis of the filings by VCCircle, The funds are being raised at a post-money valuation of ₹4,500 crore ($600 million).

The company has over 1,500 manufacturers with 120 clients and has a capacity to manage 2 million tonnes of material on a monthly basis. 

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