Bizongo, a Mumbai, India-based e-commerce-focused packaging company, raised $50 million in a Series E funding, bringing its total raised to $260 million.
The round was led by existing investor Schroder Adveq, with participation from International Finance Corp, Chiratae Ventures, B Capital, and British International Investment.
Founded in 1997, Schroder Adveq is an asset manager investing in private equity globally. Schroder Adveq invests in all private equity strategies, including venture capital, growth capital, buyouts, and turnarounds through primaries, secondaries, and direct-/co-investments.
Founded in 2015, Bizongo offers a B2B platform that focuses on digital vendor management, supply chain automation, and supply chain financing for enterprise customers in various industries, including fashion & lifestyle, pharmaceuticals, consumer discretionary, and consumer staples. Bizongo's platform serves 450-500 enterprise customers and has tied up with over 40 banks and non-bank financial companies to provide unsecured financing to vendors.
Company: Smartpaddle Technology Pvt. Ltd.
Round: Series E
Funding Month: October 2023
Lead Investors: Schroder Adveq
Additional Investors: International Finance Corp, Chiratae Ventures, B Capital and British International Investment
Company Website: https://www.bizongo.com/
Software Category: AI-powered Vendor Digitization and Embedded Financing Platform