Economists and pundits assumed that the pandemic-induced supply chain concerns would subside once the globe returned to “normal,” but the enormous demand, shuttered warehouses, workforce shortages, and other issues have persisted.Bizongo, India’s B2B platform for made-to-order goods claims to solve these global problems. The company has now raised $25M funding led by Israeli VC Liquidity Group.
Bizongo was founded in 2015 by three Indian Institute of Technology graduates- Sachin Agarwal, Aniket Deb, and Ankit Tomar. Boxes, containers, pouches, and bags are available for businesses such as food and hospitality, consumer goods, and retail.
Its warehouses are located in Mumbai, Bengaluru, and Delhi. BigBasket, Nykaa, Swiggy, Delhivery, Teabox, and Tata Cliq are among its customers.
Fund usage
“Bizongo’s tech-first solutions have powered Indian manufacturers to automate their supply chain, access working capital and increase their clientele. We want to bring similar benefits to manufacturers across SE Asia and help them scale in a market which is priming with opportunities. The credit line from Mars Growth Capital will fuel our expansion into more sectors,” said co-founder & CEO Sachin Agrawal.
“The funding will allow for 100% availability of packaging material and no-stock-outs at very low inventory level, as well as help Bizongo’s clients to reduce their made-to-order product line procurement cost,” says Yaron Primovich, Managing Director at Mars Growth Capital and the Global CRO of Liquidity Group, a Tel Aviv based global capital market credit automation leader. “Whenever we can provide capital to companies which drives cost efficiency — we see that as a win.”
The startup has over 300 commercial customers and over 3,000 partner factories through its two platforms, Procure Live and Partner Hub.
Bizongo provides a variety of services to its customers via its digital platforms, including digital vendor management, supply chain automation, and supply chain financing.
Competitors
In the packaging market, the startup competes with Vistaprints and Bambrew. It competes with Sirion Labs, Zoho, and Freshworks in the vendor management space.
