Arzooo is a growing Business-2-Business retail technology platform for electronic products that has recently raised an undisclosed amount of funds from a well-known venture capitalist in the Silicon Valley, Bill Tai and popular video conferencing platform, Zoom Meeting’s founder, Eric Yuan.
Bill Tai is a popular name in the Silicon Valley, given his record for being one of the first investors in Twitter, Wish.com, Canva, Zoom Video Communications amongst many others. The man has over 22 Initial Public Offerings in his name and is a big sot experienced businessman in the technology world.
On the other hand, investing in a retail tech company, Arzooo is the first-ever investment made by Eric Yuan in India.
Khushnud Khan, Co-founder, Arzooo mentioned in a statement that having backed by the biggest technology entrepreneurs, who have built more than a $100 billion technology company with Zoom is a great addition to Arzooo’s team.
In addition, he says that Eric’s entrepreneurial journey and experience will certainly add to the company as intellectual capital.
Arzooo was founded back in 2018 by IIT-Kharagpur alumni Rishi Raj Rathore and Khushnud Khan who also happen to be ex-Flipkart colleagues.
The B2B retail company is totally disrupting the offline market space by taking over more and more offline stores and competing effectively against the dominant players of the e-commerce business and retail sector of India.
The start-up provides three main services under one umbrella for its electronics retail business; maintaining inventory selection, pricing the products and sourcing effective supply chain for these products.
Bill Tai talks about investing Arzooo.com, saying that the company has proven to create a huge efficiency for thousands of retail store operators by collecting and leveraging data to create network efficiency in logistics, supply chain and distribution for those created networks of retailers.
Empowering physical retail stores is what Arzooo seems to be doing best at the moment which opens its door for directly competing against high-stake market players such as Walmart’s Flipkart and Amazon. Arzooo’s ‘Go Store’ is a distinct technology platform that undertakes the biggest issue in retail business and provides an easy, efficient solution to problems of selection, pricing and supply chain.
When asked about the company’s expansion plans, Khushnud Khan mentions that the company will use these freshly acquired funds to scale-up operations in the Eastern and Western regions of India.
Arzooo is currently operational in Hyderabad, Delhi-NCR, Chennai, Bengaluru and Kolkata. The funds shall be channelized accordingly to boost the company’s ‘Go Store’ platform.