Bizongo, a Mumbai, India-based B2B eCommerce and supply chain enablement platform, also launched India’s first IoT powered ‘cloud factory’ for made-to-order goods, announced that it raised $110 million in Series D round led by New York-based Tiger Global Management.
The series D round had new investments coming from CDC and IFC EAF and saw participation from existing investors BCap, Chiratae Ventures, Schroder Adveq, IFC, and Add Ventures by SCG. Manish Choksi, a member of Bizongo’s Advisory Board and the Vice Chairman at Asian Paints, also invested in his capacity in the round.
The company will deploy the fresh funds in ramping up its business and tech teams to develop a suite of digital services for both sides of the marketplace. It will also invest in nurturing its vendor partnerships and transform over 100 factories into true cloud factories through its proprietary solutions.
Company: Smartpaddle Technology Pvt. Ltd
Raised: $110.0M
Round: Series D
Funding Month: December 2021
Lead Investors: Tiger Global Management
Additional Investors: CDC, IFC EAF, BCap, Chiratae Ventures, Schroder Adveq, IFC, Add Ventures by SCG, and Manish Choksi
Company Website: https://www.bizongo.com/
Software Category: B2B eCommerce and supply chain enablement platform
About the Company: Bizongo is an innovative online B2B marketplace catering to the diverse packaging and material handling industries. It makes packaging sourcing, distribution, inventory management, and design hassle-free for enterprises. The company's automated supply chain platform ensures the availability of packaging for businesses with lower inventory. It addresses challenges such as inventory stock out, excess inventory, and obsolescence that is common for enterprises. Bizongo is India’s largest B2B platform for made-to-order products. Bizongo was founded in 2015 by three IIT graduates Aniket Deb, Sachin Agrawal, and Ankit Tomar to consolidate the fragmented and unbranded yet unique and ubiquitous B2B segment of Made-to-Order goods. Headquartered in Mumbai, Maharashtra, India.
Source: https://aithority.com/internet-of-things/bizongo-announces-110million-in-series-d-round-led-by-tiger-launches-indias-first-iot-enabled-cloud-factory-to-digitise-manufacturing/