Thursday, March 30, 2023

Supply chain tech startup Prozo raises Rs 45Cr in a pre-Series B round

Full-stack supply chain technology startup Prozo has raised Rs 45 crore in a pre-Series B funding round, a mix of equity and debt, led by Sixth Sense Ventures, along with the participation from JAFCO Asia and other marquee investors.

The startup said it plans to use the raised capital to expand its client base, warehousing and logistics network and to develop further Prozo Warehousing and Logistics (PWLP) SaaS platform.

Previously, Prozo had raised Rs 76 crore in March 2022 as part of its Series A round from Sixth Sense Ventures.

Founded in 2015 by Ashvini Jakhar, The startup enables fast fulfilment through its pan-India warehousing and freight network, which is powered by an “end-to-end supply chain technology stack and control tower.”

“Last year has been a year of relentless execution and rapid growth for Prozo, and we benefited hugely from a partner like Sixth Sense in our journey. Their support not just in terms of capital but also in terms of network and strategic insights, has been invaluable,” said Ashvini Jakhar, Founder and CEO of Prozo.

“Prozo has scaled faster than expected since our last investment in March 22 in a very responsible manner. Large enterprises, as well as fast-growing D2C brands, including the likes of Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP, and Vahdam, entrust Prozo with their supply chain management,” said Nikhil Vora from Sixth Sense.

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