B2B Retail Tech start-up Arzooo has raised a whopping $6 million from venture debt fund Trifecta Capital.
It aims to hit a sales run rate of $500 million this year.
Moreover, technology and operational capabilities are upgraded for utilising funds to augment growth.
This is to build supply chain infrastructure and serve more than 50,000 retail stores.
In October last year, the Bengaluru-based start-up raised $7.5 million in its Series backed by WRVI Capital.
Zoom Video founder Eric Yuan and existing investors were also among the other backers besides US-based 3Lines Venture Capital.
The objective of the company is to proffer it’s customers the largest selection of inventory, best price and fastest delivery.
Further, attractive payments and financing solutions are used as a medium to drive up sales and in-store conversions.
Currently, it operates across 10 cities of the country in the south, north and east.
The plan is to enhance operations in Mumbai, rest of Maharashtra and Gujarat respectively.
However, ex-Flipkart colleagues and IIT-Kharagpur alumni Khan and Rishi Raj Rathore founded Arzoo in 2018.
With more than 7,000 partner stores, the company has grown massively in terms of sales.
It’s competitors include bigger sellers and online marketplaces such as Amazon, Flipkart, ShopClues and vertically integrated startups such as Zefo.
Arzooo has witnessed a strong demand recovery post the Covid-19 lockdown and continues to grow to meet the rising demands.
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