The startup will leverage the funds for market expansion and scaling its logistics and operational capabilities, it said in a statement. It will also channelise the funds to ramp up its supply chain infrastructure with technology and operational capabilities to increase its reach across the country.
Its B2B business witnessed strong growth through the COVID-19 pandemic and it is aiming to hit a $500 million sales run rate this year, Arzooo said. The startup currently operates across South, North, and eastern India, and is looking to scale operations in Mumbai, rest of Maharashtra, and Gujarat soon.
The company raised $7.5 million in Series A funding led by WRVI Capital along with its existing investors in October last year. Last November, it also secured funding from Zoom Video founder Eric Yuan.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from February 23-25, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Arzooo||Bengaluru||6 million||-||Trifecta Capital||-||Consumer Electronics||E-commerce|
|Doubtnut||Gurugram||31 million||Series B||SIG, Lupa Systems||Sequoia Capital India, Omidyar Network India, Waterbridge Ventures||Education/Training||EdTech|
|Wurkr||London||1.4 million||Seed||Hindustan Media Ventures Ltd||Seedr||Internet||SaaS|
|MyShubhLife||Bengaluru||4 million||-||Patamar Capital||-||Financial Services||FinTech|
|Impact Analytics||Bengaluru||11 million||Series A||Argentum Capital Partners IV||-||Software||SaaS|
|Innovaccer Inc.||Noida||105 million||Series D||Tiger Global Management||Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital, M12 (Microsoft's Venture Fund)||Healthcare IT||HealthTech|
|Infra.Market||Mumbai||100 million||Series C||Tiger Global Management||Accel Partners, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund, Foundamental Gmbh||Construction||E-commerce|
|Argoid||Bengaluru||1.7 million||Seed||YourNest Venture Capital||Turbostart, TeamLaunchpad.vc||Software||AI and Machine Learning|
|Kutuki||Bengaluru||2.2 million||Seed||Omidyar Network India||AET, Better Capital, First Cheque, Abhishek Nag||Education/Training||EdTech|
|Battery Smart||Delhi||Orios Venture Partners||Faad Network||Automobiles Other Vehicles & Parts||Energy Storage & Batteries|
|Settlin||Bengaluru||413,941||Angel||GSF Accelerator, ah! Ventures||-||Real Estate Development & Operating Company||Real Estate Tech|
|Couch Fashion||Delhi||150,000||Seed||We Founder Circle||-||Internet||AI and Machine Learning|
|ICS Career GPS||Lucknow||413,667||Angel||-||Bagla Group||Education/Training||EdTech|
|Comofi Medtech Pvt Ltd||Yelahanka||296,456||-||CIIE.CO||JITO Angel Network, KIIT-Technology Business Incubator||Medical Devices & Equipment||Robotics & Drones|
|Hubhopper||Delhi||-||-||Hindustan Media Ventures||-||Internet||Digital Media|