New Delhi, Mar 2 (PTI) Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
New Delhi, Mar 2 (PTI) Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
Prozo sells its clients - mostly direct-to-consumer (D2C) brands - a supply chain service that helps them replicate Amazon Prime’s promise of same day or next day delivery.
Full-stack supply chain, warehousing, and logistics startup Prozo has raised $10 million in a Series A round led by Sixth Sense Ventures. Jafco Asia and HNIs also participated in the round.
Overall, the Indian logistics and supply chain industry is predominantly reliant on manual operations and processes, low on tech and is yet to be digitized in a meaningful manner. Moreover, supply chains are fragmented and multi-layered, with multiple intermediaries and vendors between the brand/ supplier and the end customer.
After two turbulent years, the country’s logistics sector seems to have found its mojo back. Operational efficiency is nearing pre-Covid levels and there is a strong thrust on digitalisation. A few more improvements and the sector might be able to make India a global logistic hub.
The year’s drawing to a close, making it the perfect time to look into the rear view mirror and assess some of the top trends that prevailed in the MSME sector.
Hailing from a non-descript village in Haryana, Ashvini Jakhar, 38, completed his medical studies at the Armed Forces Medical College (AFMC) in Pune and rose to the rank of Surgeon Lieutenant Commander in the Indian Navy before returning to civilian life and becoming an entrepreneur.
For the past few years, commerce has been moving online at a very fast pace. Rising internet penetration and smartphone usage, an enabling online payments and logistics infrastructure and favourable demographics are the key drivers of this trend.
E-commerce players clocked a gross merchandise value of $9.2 billion this year, according to data released by research firm RedSeer.
With a lot of SMEs and enterprises having shifted their focus from being 100% offline to online, Prozo is experiencing a significant rise in demand for pay-per-use, flexible warehouses. Prozo is a full-stack Cloud supply chain company offering end-to-end supply chain services on a pay-per-use basis to SMEs, D2C brands and enterprises.
The direct-to-consumer (D2C) route enables brands to communicate directly with their customers, get actionable feedback on products and services, do away with multiple intermediaries and enjoy higher margins.
Prozo, a full-stack supply chain, warehousing, and logistics company has raised ₹76 crore in its Series-A funding from Sixth Sense Ventures along with the participation of Jafco Asia and HNIs.
Prozo will deploy funds to expand its fulfillment footprint, client base, technology and analytics capabilities Jafco Asia and HNIs also participated in Prozo’s funding round
Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
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Prozo Distribution Pvt Ltd, a parent company operating Noida-based supply chain, warehousing and logistics-focused startup Prozo, has secured an investment of approximately ₹ 76 crore ($ 10 million) under the leadership of Sixth Sense Ventures.
Prozo has raised Rs 76 Crores from Sixth Sense Ventures, JAFCO Asia, and other investors. Prozo will use these funds to expand into other regions, acquire customers, invest in technology and hire people, its founder Ashvini Jakhar said.
Prozo, a full-stack supply chain, warehousing, and logistics company has raised ₹76 crore in its Series-A funding from Sixth Sense Ventures along with the participation of Jafco Asia and HNIs. The funds will be used to expand Prozo’s warehousing and fulfillment footprint, client base, and technology and analytics capability. Founded by Dr Ashvini Jakhar, Prozo provides end-to-end supply chain solutions and same day, next day delivery fulfillment to SMEs, D2C brands and Enterprises on a pay-per-use model.
Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
New Delhi, Mar 2 (PTI) Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
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Supply chain and storage firm Prozo garnered INR 76 crore from Sixth Sense Ventures, Jafco Asia, and high-net-worth individuals.
नोएडा आधारित सप्लाई चेन, वेयरहाउसिंग और लॉजिस्टिक्स केंद्रित स्टार्टअप Prozo का संचालन करने वाली मूल कंपनी, Prozo Distribution Pvt Ltd ने Sixth Sense Ventures ने नेतृत्व में लगभग ₹76 करोड़ ($10 मिलियन) का निवेश हासिल किया है।
New Delhi, Mar 2 (PTI) Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
Startup Prozo has raised $10 million to expand Prozo’s warehousing and fulfillment footprint, client base, technology and analytics capability, according to an official statement. The company serves clients like Reliance JioMart, McGraw Hill, Lavie, WinMagic Toys, and other D2C brands across more than 10 categories.
Supply chain and warehousing startup Prozo has raised Rs 76 crore from Sixth Sense Ventures, Jafco Asia, and high net-worth individuals, founder Ashvini Jakhar told ET. Prozo will use the fresh funds to expand into other regions, acquire customers, invest in technology and hire people, Jakhar said.
Venture capital firm Sixth Sense on Wednesday said it has led a Rs 76-crore Series-A funding round in logistics start-up Prozo. Jafco Asia and high net worth individuals also participated in the round.
Sixth Sense Ventures led a $10 million (Rs 76 crore) funding round for Prozo Distribution Pvt Ltd, a supply chain, warehousing, and logistics oriented firm. Jafco Asia and high net worth individuals also participated (HNIs).
The funds will be used to expand Prozo's warehousing and fulfilment footprint, client base, and technology and analytics capability, the statement said..
Noida-based Prozo, a full-stack supply chain, warehousing, and logistics company, has raised about $10 million (Rs 76 crore) in its Series A funding round led by Sixth Sense Ventures.
Prozo has raised ₹76 crore in its Series-A funding round led by Sixth Sense Ventures. Jafco Asia and HNIs also participated in the round. The funds will be used to expand Prozo's warehousing and fulfillment footprint, client base, and technology & analytics capability.
Prozo, India’s leading full-stack supply chain, warehousing, and logistics company has raised INR 76 crore in its Series-A funding round led by Sixth Sense Ventures. Jafco Asia and HNIs also participated in the round. The funds will be used to expand Prozo’s warehousing and fulfillment footprint, client base, and technology & analytics capability.
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Prozo, a full-stack supply chain, warehousing, and logistics startup, has raised Rs 76 crore or about $10 million in its Series-A round led by Sixth Sense Ventures. Jafco Asia and HNIs also participated in the round.
Prozo Distribution Pvt Ltd which operated supply chain, warehousing and logistics focused startup Prozo, has raised $10 million (Rs 76 crore) led by Sixth Sense Ventures with participation from Jafco Asia and high net worth individuals (HNIs).
Early-stage venture capital firm Mela Ventures has marked the close of its maiden fund MV Core Tech Fund-1 at Rs 320 crore, exceeding its initial target by 1.6x times.
