Blubirch, a Bengaluru, India-based SaaS startup, has raised $6.37 million in a Series A funding.
The round was led by Cornerstone Ventures and Capital2B.
Cornerstone Venture is an India's frontier Enterprise SaaS VC Fund investing in highly scalable enterprise technologies with a strong moat. The Fund invests at pre-Series A to Series B stage.
Capital2B is a fund focused on investing in tech and IP-led businesses, backed by stellar LPs like InfoEdge and Temasek. The fund invests in early stage and growing startups that are rooted in science and technology.
Blubirch Use of Funds
The company will use the funds for growth initiatives, including deepening its presence in retailer marketplaces and OEM ecosystems in India while also expanding to the Middle East and Southeast Asia regions.
Founded in 2014 by Sapan Jain, Jeby Cherian and Amit Goel, Blubirch offers a complete reverse supply chain management solution with its AI- and ML-powered Returns Automation and Monetization Platform, enabling real-time returns tracking. The company's platform offers end-to-end services and maximizes recovery from returned, unsold and unused technology assets for retailers and enterprises, enabling clients to handle unutilized assets and optimize the value and performance of IT assets throughout their life cycle.
Company: Green Enabled IT Solutions Pvt. Ltd.
Raised: $6.37 million
Round: Series A
Funding Month: October 2023
Lead Investors: Cornerstone Ventures and Capital2B
Company website: https://www.blubirch.com/
Software Category: Reverse Supply Chain Management