Arzooo, a Business-to-Business retail tech start-up, has secured $7.5 million in Series A funding led by venture capital firm – WRVI Capital. The Series A round also saw participation from Arzooo’s existing investors 3Lines Venture Capital and Jabber Internet Group, others.
The retail tech company plans to utilise the raised funds to expand its operations in western and eastern parts of the country and to strengthen Go Store, its technology platform.
Speaking on the fund raise, Khushnud Khan, co-founder, Arzooo, said – “Our strong growth over the past year is a testimony to the positive impact Arzooo has had on the business of physical retailers. The current fund raise will help us boost our technology, quality of service and reach to fulfil our goal of equipping each retail store with technology to grow and perform profitable business.”
Sudhir Rao, Managing Partner WRVI Capital, commented, “Arzooo has, in less than two years, through its initial focus on the $50-billion consumer durable segment, demonstrated a highly scalable product market fit, especially in a country where local medium and small retailers dominate the market. Arzooo’s technology and localised demand-supply integration offer great scalability to retail stores for both product expansion and profitability, which is a win-win for all.”
Founded by Ex-Flipkart executives and IIT KGP alumni Khushnud Khan and Rishi Raj Rathore, the company provides a range of solutions to retailers and is aiming to serve 50,000 retailers in the coming year. The Bengaluru-based start-up has its operations in Delhi-NCR, Bengaluru, Kolkata, Chennai and Hyderabad.
–AK
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.