• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 20, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Bizongo bags $110 million led by Tiger Global at valuation of $600 million

by Balraj
December 21, 2021
in Business, India News, Startups, Tech
Reading Time: 2 mins read
0
Bizongo co-founders(L to R), Sachin Agrawal, Ankit Deb, and Ankit Tomar

Bizongo co-founders(L to R), Sachin Agrawal, Ankit Deb, and Ankit Tomar

TwitterWhatsappLinkedin

Bizongo, a B2B e-commerce and supply chain enablement startup for enterprises, has announced a $110 million Series D funding round led by American investment firm Tiger Global Management. The round also featured participation from investors such as BCap, Chiratae Ventures, CDC Group, Schroder Adveq, International Finance Corporation (IFC), IFC Emerging Asia Fund (EAF), and Add Ventures by SCG.

You might also like

Amazon Issues Urgent Security Warning as Prime Account Hacks Surge Ahead of Prime Day 2025

Honda, Japanese Carmaker Successfully Launches and Lands Reusable Rocket

Iran Warns Citizens to Delete WhatsApp and Instagram Amid Spy Claims, Meta Denies Accusations

Bizongo co-founders(L to R), Sachin Agrawal, Ankit Deb, and Ankit Tomar
Bizongo co-founders(L to R), Sachin Agrawal, Ankit Deb, and Ankit Tomar

The company’s valuation has risen to $600 million as a result of the fresh funding. Bizongo plans to use the fresh capital to expand its business and attract new talents for its technology teams in order to develop a suite of digital solutions for both sides of the marketplace. It will also invest in upgrading more than 100 factories into true “cloud factories” using its proprietary technology.

The SaaS-based IoT-powered ‘cloud factory’ for made-to-order goods will facilitate manufacturers to offer real-time control, visibility, and intelligence spanning the whole supply chain to their consumers. This cloud factory technology is being tested with pharmaceutical packaging manufacturer Ansapack.

Bizongo recently introduced a real-time seller and price discovery online bidding platform. It is also strengthening its digital supply chain financing (SCF) platform in collaboration with banks and non-bank financial companies (NBFCs). The company claims that its SCF platform has already facilitated more than 1,000 SMEs and MSMEs to collect early payments totaling over Rs 1,000 crore.

The B2B tech firm’s top line increased eightfold from pre-pandemic levels, reaching $250 million in November of this year. The company’s expansion is also driven by strong unit economics and positive cash flow since it is now earnings before interest, taxes, depreciation, and amortization (EBITDA) profitable. Bizongo has minimized inventory from its operating model, increasing the company’s capital efficiency.

Commenting on the fundraise Sachin Agrawal, Co-founder at Bizongo, said, “There is a lot of untapped potential in the way Indian businesses can leverage technology to grow and thrive. We are now fully geared to sustainably grow the business by at least 300 percent year-on-year (YoY) from here on.”

John Curtius, Partner at Tiger Global Management, said, “The market for customized goods is the fastest-growing segment in B2B e-commerce. At a size of $500 billion, this market is vast yet highly fragmented and unorganized. We found Bizongo very unique in the way they have been building a transaction-led platform with a tech-first vs a trade-first mindset. The full-stack approach with an asset-light operating model makes Bizongo stand out as a market leader in this segment.”

SmartPaddle Technology Pvt. Ltd owned Bizongo was founded in 2015 by three IIT grads Aniket Deb, Ankit Tomar, and Sachin Agrawal. The startup is a B2B online marketplace that provides industry packaging supplies for sectors that include e-commerce, FMCG, industrial logistics, retail, restaurant & hospitality, and food & beverage.

Bizongo manufactures carry bags, cartons, containers, cans, material handling equipment, protective packaging, pouches & tubes, non-paper-based packaging, shippers, paper goods, bulk packaging, among other packaging supplies. According to its website, the company has partnered with well-known brands such as Walmart-owned Flipkart, logistics startup Ecom Express, Tata Cliq, Firstcry, and Licious, among many others.

Tags: Ankit DebAnkit TomarB2BBizongoCDC GroupChiratae VenturesSachin AgrawalSmartPaddle Technologysupply chainSupply Chain TechnologyTiger Global Management
Tweet54SendShare15
Previous Post

Next year, city employees will have the option to convert cryptocurrency to payroll

Next Post

597,000 Bitcoins lost after mother throws away broken laptop

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Amazon Issues Urgent Security Warning as Prime Account Hacks Surge Ahead of Prime Day 2025

by Anochie Esther
June 20, 2025
0
Amazon

As Amazon prepares for its longest-ever Prime Day event from July 8 to 11, 2025, the company has issued a serious warning to all customers: online scams are...

Read more

Honda, Japanese Carmaker Successfully Launches and Lands Reusable Rocket

by Anochie Esther
June 20, 2025
0
Honda

In a move no one saw coming, Honda, the automotive giant best known for its reliable sedans and motorcycles, has officially entered the space race. On June 17,...

Read more

Iran Warns Citizens to Delete WhatsApp and Instagram Amid Spy Claims, Meta Denies Accusations

by Harikrishnan A
June 20, 2025
0
Meta Introduces Ads to WhatsApp Status

In a warning broadcast on national television, the Iranian government has urged its citizens to remove WhatsApp and Instagram from their smartphones, claiming the popular apps are leaking...

Read more
Next Post
Bitcoin dealer claims he lost crypto worth $557 million

597,000 Bitcoins lost after mother throws away broken laptop

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?