Supply chain startup Prozo raises Rs 45 crore in funding led by Sixth Sense Ventures

• 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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