Business-to-Business retail tech start-up, Arzooo has secured an undisclosed sum from Zoom’s Founder Eric Yuan and venture capitalist, Bill Tai.
Arzooo.com is Zoom meeting app’s founder, Eric Yuan’s first investment in India meanwhile Bill Tai has been a VC since 1991 and has had 22 of his startups become listed companies. Prior to Arzooo, he has also invested in Canva, Wish.com, Twitter, Zoom Video and ColorGenomics.
“Having one of the biggest tech entrepreneurs, who has built a $100 billion technology company with Zoom, is a great addition to the team. Alongside the investment, Eric’s entrepreneurial journey and experience will be a great intellectual capital for us.” says Khushnud Khan, Arzooo’s Co-founder in an interview to ‘YourStory’.
The startup seeks to ramp up ‘Go Store’, its B2B platform and will use the funds raised to focus on technology, quality of service and operations.
Operating in Delhi-NCR, Bengaluru, Chennai, Kolkata and Hyderabad, the retail tech startup provides a range of solutions to retailers and is aiming to serve 50,000 retailers in the coming year.
Founded by Ex-Flipkart executives and IIT KGP alumni Khushnud Khan and Rishi Raj Rathore, it has also raised $7.5 million in Series A funding led by venture capital firm – WRVI Capital. Arzooo’s existing investors 3Lines Venture Capital and Jabber Internet Group among others also participated in the funding round.
The company plans to utilise the raised funds to expand its operations in western and eastern parts of the country.
–AK
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