Increff, a startup that offers inventory optimization solutions for e-commerce, fashion, and retail brands, has raised $12 million in its Series B funding round, led by TVS Capital Funds, Premji Invest, and Binny Bansal’s 021 Capital. It has also raised capital from six angel investors as part of this round, according to ETtech report.
The company said it will use the capital to set up offices and strengthen its teams in the United States and Europe, and to expand its product offering and services.
Founded in 2016 by Rajul Jain, Anshuman Agarwal and Romil Jain, the startup raised a seed round of $2 million from Sequoia Capital and a clutch of angel investors in 2016. In 2019, it got Series A funding of $3 million from 021 Capital and Binny Bansal.
“We have been growing between 83% and 116 % year on year for the last four years (including Covid-19 years). We are a capital-efficient company and have every internal process in place to run a very large company,” Rajul Jain, who is also its CEO, said.
“Now, our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding products,” Jain added.
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