Even flow Brands (Evenflow), an ecommerce rollup, announced it has raised $5 million in funding from a clutch of investors, according to ETtech report.
The startup partners with digital-first brands that sell on ecommerce marketplaces like Amazon, Flipkart, Meesho, JioMart, and others, and helps to scale them profitably.
Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket, and marquee angel investors such as Emil Michael (ex-chief business officer at Uber), Vijay Shekhar Sharma (founder, Paytm), Kunal Shah (founder, CRED), Nimesh Kampani (cofounder, Trica), Sandeep Varaganti (chief executive officer (CEO) of Marketplace Reliance Retail), Abhishek Nag (ex-director, Netflix), Sony Joy (ex-vice president, Truecaller), MageHold (HongKong based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and a few others participated in the funding round.
Commenting on the development, Utsav Agarwal, Co-Founder at Evenflow, said, “We have acquired 7 brands and launched two private labels and managed to scale our brands steadily in the last 12 months. Our team is committed to scaling these fantastically built small businesses into everyday brands.”
Apoorva Ranjan Sharma, the founder of Venture Catalysts and 9Unicorns, added, “India’s digital-first online brands is going to be a $100 billion opportunity over the next 4-5 years. However, these brands currently cannot scale up despite having done business on top ecommerce platforms. With Evenflow, several of these brands can become Rs 100 crore brands in a short time, and we are very optimistic about Evenflow’s capacity to build and grow these brands.”
Founded in 2021 by Utsav Agarwal and Pulkit Chhabra, Evenflow acquires and scales-up third-party sellers on marketplaces through operational intelligence across the value chain — marketing, branding, cataloguing, supply chain, sourcing, channel expansion, etc. It also focuses on creating multi-crore brands across categories where consumers do not have branded options like home and kitchen, baby care, sports and fitness, gardening, etc.
“We are thrilled to be a part of the Evenflow team and their continuous effort to remove all operational barriers for brands in the ecommerce space. Together we aim to enable small-medium scale sellers to expand their presence on the top ecommerce platforms and work efficiently and efficiently,” said Vishesh Khurana, cofounder of Shiprocket.
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