Total amount raised
$62.5 Million
Latest funding date
3/1/2022
Location
UpScalio raised funds through multiple rounds to invest in and grow e-commerce businesses. The company provided financial services to digital brands on major e-commerce platforms, supporting their growth and operations.
What Is UpScalio?
Founded in 2021, UpScalio is an e-commerce investment firm based in Gurgaon, Haryana, India. The company operates within the e-commerce platforms, financial services, and impact investing industries.
UpScalio was established by Gautam Kshatriya, Nitin Agarwal, and Saaim Khan. The firm has been under the corporate insolvency resolution process since the NCLT Chandigarh order of April 2024, which suspended its board. They provided capital, operational expertise, and strategic support to help digital brands scale.
How Much Funding Has UpScalio Raised?
- Seed Round
- Amount Raised: $5M
- Date: June 2021
- Lead Investors: Kingsway Capital, Presight Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire and scale high-growth online-first brands.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial capital for acquiring e-commerce brands.
- Series A
- Amount Raised: $42.5M
- Date: August 2021
- Lead Investors: Presight Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand the brand portfolio.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling the business.
- Pre-Series B Round
- Amount Raised: $15M
- Date: March 2022
- Lead Investors: Gulf Islamic Investments LLC (GII)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To partner with more brands and invest in key growth functions.
Total Amount Raised: $62.5M. Two rounds, the March 2021 seed and the March 2022 debt financing, were not disclosed and are not in the total.
Current Valuation: Not publicly disclosed
Key Investors
- Gulf Islamic Investments LLC (GII)
- Details: GII is a UAE-based investment firm that focuses on high-growth companies. They have made six investments in India, including UpScalio.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: 1-India Family Mart, Bombay Shaving Company
- Presight Capital
- Details: Presight Capital is a global venture capital firm that invests in early-stage companies. They led UpScalio's Series A round.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- Kingsway Capital
- Details: Kingsway Capital is a London-based investment firm that focuses on emerging markets. They participated in UpScalio's seed round.
- Investment Focus Areas: Emerging markets, technology, consumer goods
- Notable Investments: Not publicly disclosed
- Northern Arc
- Details: Northern Arc is a financial services platform that provides debt financing to under-served segments in India. They participated in UpScalio's pre-Series B round.
- Investment Focus Areas: Debt financing, emerging markets
- Notable Investments: Not publicly disclosed
- Unity Bank
- Details: Unity Bank is a financial institution that participated in UpScalio's pre-Series B round. They focus on providing financial services and lending.
- Investment Focus Areas: Financial services, lending
- Notable Investments: Not publicly disclosed
What's Next for UpScalio?
UpScalio has been in insolvency proceedings since April 2024, when the NCLT admitted its lender's petition, and no funding round has followed the March 2022 pre-Series B. Its portfolio covers 13 brands in utility categories like home and kitchen, furniture, and automotive accessories.
However, the path ahead is not without challenges. Integrating and managing a diverse portfolio of brands will require significant resources and strategic planning. Additionally, competition from other well-funded players in the e-commerce roll-up space could pose a threat.
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