Arzooo, Retail tech platform raised $70M

Arzooo is a Bangaluru-based B2B retail tech startup that has been backed by various investors including Tony Xu, Celesta Capital, and 3 Lines VC in the Series B funding round. Arzooo has raised $70 million.

Arzooo is planning to utilize the fresh capital funding in the following ways:

To enlarge its technology focused on scaling store growth,
Market expansion of the platform, and
To deepen its consumer electronics market in India.

The company, Arzooo was founded by Khushnud Khan and Rishi Rathore. The platform facilitates the retailers access to a wide variety of SKUs across leading and emerging brands. Arzooo currently exists in pan-India and is already powering over 30,000 retailers. The platform is allowing their retailers to scale up without facing the challenges of extensive inventory holding and access to pricing.

DC advisory has also worked with Arzooo as an advisor on managing the transaction process for this current fresh capital funding round.

EXECUTIVE OPINION:

Khushnud Khan, Co-founder, and CEO, Arzooo, said, “We’re pleased to welcome a new set of investors to the Arzooo rocketship with this round that was oversubscribed by 1.4X…we’re really glad to get on board some amazing set of people with a shared vision to transform offline retail joining the board”

Yoshitaka kitao, Chairman and President, of SBI investment, said, “Arzooo’s business model is very capital efficient and can meet the increasingly diversified requirement of both retail shops and end customers. It is also great for them to have built a self-branded functional logistics system, which is one of the most important parts of the business.”

“This is a large category of consumption that is ripe for disruption through the efforts of companies like Arzooo, especially in non-metro markets,” added Lavanya Ashok, Partner at Trifecta Capital.

Tags : Arzooo, Retail tech platform, StartupsDekho

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Arzooo, Retail tech platform raised $70M

Tags : Arzooo, Retail tech platform, StartupsDekho

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