Total amount raised
$18.4 Millions
Latest funding date
02/01/2023
Location
Prozo has successfully raised funds through a Series A round, attracting eight investors including JAFCO Asia and Sixth Sense Ventures. The company offers a comprehensive suite of supply chain solutions, integrating warehousing, logistics, and technology to optimize operations for B2B, B2C, and omnichannel brands.
Keep reading to explore the intricacies of Prozo's fundraising journey and the investors backing this innovative platform.
What Is Prozo?
Prozo, founded on July 10, 2014, by Ashvini Jakhar, is headquartered in Gurgaon, Haryana, India. The company specializes in providing comprehensive supply chain solutions, including warehousing, logistics, and technology services. Prozo employs between 501 and 1000 people, offering end-to-end supply chain capabilities for B2B, B2C, and D2C channels.
How Much Funding Has Prozo Raised?
- Seed Round
- Amount Raised: $210.2K
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial supply chain solutions.
- Seed Round
- Amount Raised: $1M
- Date: September 2016
- Lead Investors: Earlsfield Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's warehousing and logistics capabilities.
- Seed Round
- Amount Raised: $504.7K
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop technology and expand service offerings.
- Seed Round
- Amount Raised: $1.2M
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the Prozo Warehousing & Logistics (PWLP) SaaS platform.
- Series A
- Amount Raised: ₹760M
- Date: March 2022
- Lead Investors: Sixth Sense Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the warehousing footprint and client base.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and growth initiatives.
- Series A
- Amount Raised: ₹450M
- Date: February 2023
- Lead Investors: Sixth Sense Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the client base, warehousing, and logistics network, and enhance the PWLP SaaS platform.
Total Amount Raised: $3.2M + ₹1210M
Current Valuation: Not publicly disclosed
Key Investors
- Sixth Sense Ventures
- Details: Sixth Sense Ventures is a venture capital firm that led the Pre-Series B funding round for Prozo. They are known for investing in consumer-centric businesses and startups with innovative business models.
- Investment Focus Areas: Consumer brands, technology-driven companies, innovative business models
- Notable Investments: Not publicly disclosed
- JAFCO Asia
- Details: JAFCO Asia is a significant investor that participated in Prozo's funding rounds. They focus on investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology, logistics, consumer services
- Notable Investments: Not publicly disclosed
- Earlsfield Capital
- Details: Earlsfield Capital led a seed round for Prozo in September 2016. They are a venture capital firm that invests in early-stage companies.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Prozo?
Prozo stands at the cusp of significant growth, driven by the expansion of its client base and warehousing network. With a tenfold increase in its warehousing footprint and client base, the company is poised to leverage its Prozo Warehousing & Logistics (PWLP) SaaS platform to offer more advanced supply chain solutions. This expansion presents a substantial opportunity for Prozo to become a key player in the supply chain industry.
Looking ahead, Prozo plans to raise a larger Series B round in FY 23-24, which will further fuel its growth. The increasing demand for customizable, enterprise-grade, pay-per-use supply chain solutions positions Prozo well for future fundraising opportunities. However, the company may face challenges in scaling operations while maintaining service quality and managing competition from other supply chain service providers.
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