Total amount raised
$17 Million
Latest funding date
02/01/2022
Location
Increff has successfully raised funding over three rounds, with the latest being a Series B. The company is backed by notable investors including TVS Capital Funds, 021 Capital, and Premji Invest.
Keep reading to explore the intricacies of Increff's fundraising journey and the investors backing this innovative platform.
What Is Increff?
Increff, based in Bangalore, Karnataka, India, specializes in supply chain management and inventory optimization. The company operates in various industries, including AI, e-commerce, fashion, and lifestyle. It serves over 700 global brands across 35+ countries.
Founded with a mission to simplify supply chain complexities, Increff employs between 251-500 people. The company offers advanced retail merchandising and inventory optimization platforms, driving retail growth and maximizing profitability through smart planning and data-driven insights.
How Much Funding Has Increff Raised?
- Seed Round
- Amount Raised: USD 2,000,000
- Date: December 2016
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to start the company and develop its inventory optimization solutions.
- Series A
- Amount Raised: USD 3,000,000
- Date: January 2019
- Lead Investors: 021 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development.
- Series B
- Amount Raised: USD 12,000,000
- Date: February 2022
- Lead Investors: TVS Capital Funds, Premji Invest
- Valuation at Round: USD 73,000,000
- Motivation Behind the Round: To expand services to Europe and the U.S., develop new products, train employees, and hire new talent.
Total Amount Raised: USD 17,000,000. Current Valuation: USD 73,000,000.
Key Investors
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the founder of Wipro. It focuses on long-term investments across various sectors.
- Investment Focus Areas: Technology, consumer, healthcare, financial services
- Notable Investments: Flipkart, PolicyBazaar, Lenskart
- TVS Capital Funds
- Details: TVS Capital Funds is a private equity firm based in Chennai, India. It focuses on investing in mid-sized companies and next-generation entrepreneurial ventures.
- Investment Focus Areas: Financial services, healthcare, consumer products
- Notable Investments: Nykaa, Go Digit General Insurance, TVS Credit Services
- 021 Capital
- Details: 021 Capital is an investment firm founded by Binny Bansal, co-founder of Flipkart. It focuses on early-stage investments in transformative and innovative solutions.
- Investment Focus Areas: Technology, biotechnology, agriculture
- Notable Investments: Ather Energy, CureFit, SigTuple
- Sequoia Capital
- Details: Sequoia Capital is a well-known venture capital firm that invests in early and growth-stage companies. It has a global presence and a strong track record in the technology sector.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Google, Apple, WhatsApp, Airbnb
What's Next for Increff?
Increff is poised for significant growth as it expands into the U.S. and European markets. The company plans to leverage its recent $12 million Series B funding to set up offices, strengthen local teams, and develop new products and services for supply chain optimization. This expansion presents a substantial opportunity, given the increasing reliance on SaaS solutions and the growing demand for efficient supply chain management.
Future fundraising opportunities seem likely as Increff continues to scale its operations and innovate its product offerings. The company's rapid growth and strong investor backing suggest that additional funding rounds could support further expansion and development. However, Increff may face challenges such as intense competition, navigating new market dynamics, and maintaining high growth rates while expanding internationally.
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