Bizongo, an online marketplace for packaging products, has now secured $30 million in the funding round of Series C, led by the Swiss Hedge Fund, Schroder Adveq.
Bizongo secured $22 million as a part of a Series B financing round in the year 2018 from the investors, including the IFC and B Capital.
“Bizongo has witnessed a significant improvement in operating metrics since the last round of financing, and the current round will further help us grow the business in a sustainable way,” said Aniket Deb, co-founder, and chief executive of Mumbai-based Bizongo. The funds will be deployed to ramp up technology, expand into sectors such as pharma packaging, and increase Bizongo’s penetration across India, said Deb.
The startup designs and develops packaging for clients such as Amazon, Flipkart, Swiggy, Cure.Fit, Tata Cliq, Kaya, and PharmaEasy.
“We believe in the vision of the founders who are transforming and digitizing the highly fragmented B2B packaging marketplace by leveraging technology and a unique supply chain efficiency solution. Bizongo has demonstrated strong momentum by continuing to add marquee clients, and we have been impressed with the company’s rapid growth trajectory over the past year,” said Kabir Narang, general partner and co-head of Asia at B Capital Group. Existing investors B Capital, Accel, Chiratae Ventures, and IFC also took part in this financing round.
