17 July 2017, India:
Bangalore-based fashion supply chain solution provider Increff has raised $2 million in the latest round of funding led by Sequoia Capital. The round also saw the participation from CareerNet co-founders Rishi Das and Anshuman Das; PremjiInvest’s Rajesh Ramaiah; and Jasbir Juneja, Director of research and advisory firm RedSeer Consulting.
The company plans to utilize the fresh funds to enhance its product offering, expand its customer base and hire for its technology team as per the report by ET.
Founded in August 2016 by former Myntra executives, Rajul Jain, Nirmal Jain, Anshuman Agarwal and Romil Jain, Increff is a business partner to Fashion and Lifestyle brands and retailers to deliver a significant and sustainable increase in sales and inventory efficiency. Through the technology and data backed intelligence, brands can transform their merchandising, design and fulfillment operations.
Rajul Jain, Chief Executive said, “The fashion industry, including brand houses, retailers and e-commerce players, is struggling to generate margins while they try to achieve a faster rate of moving inventory. Increff’s offering takes into account factors such as predicting demand on merchandising level and ensuring constant tracking of every item at warehouse level.”
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