Increff Raises $12 Million In Series-B led by TVS Capital Funds along with Premji Invest & Binny Bansal's 021 Capital; Eyes Expansion in Global Markets
- TVS Capital Funds led the Series B round along with Premji Invest with participation from existing investor 021 Capital and 6 angle investors
- Increff will utilize the funds mainly for two purposes:
- Scaling the tech team
- Strengthening Sales and marketing in international geographies, specifically in the US and Europe, as well as hiring fresh talent in these markets.
NEW YORK, Feb. 24, 2022 /PRNewswire/ -- Increff, a leading Indian Supply Chain SaaS innovator offering inventory optimization solutions for e-commerce, fashion, and retail brands has raised $12 million in its Series B funding round. TVS Capital Funds, Premji Invest, Binny Bansal's 021 Capital, and 6 existing angels participated in this round. Focusing on expanding its global presence, Increff will utilize the funds for setting up offices and strengthening the local teams in the US and European region. Furthermore, the capital raised will be invested in adding visionary products, and services, to Increff's portfolio for supply chain optimization.
Increff offers a host of SaaS-based industry-agnostic merchandising solutions and smart warehousing solutions. As businesses around the globe begin to recover from the impact of the COVID-19 pandemic, brands are pinning their hopes on cutting-edge tech solutions to navigate through intense price pressures, inventory mismanagement issues, demand fulfillment challenges, etc.
Leveraging intelligent automation tools offered by Increff, brands and retailers can easily adapt to the ever-changing consumer expectations through algorithm-based merchandise planning, pricing, allocation solutions and achieve higher inventory accuracy & order fulfillment efficiency with warehousing solutions. Increff is well placed in solving the challenges of the customers for more than 10 retail verticals. Currently, they are market leaders in the fashion space in India and the Middle East and are seeing a growing clientele in the US and Europe.
Commenting on the same, Rajul Jain, CEO & Co-Founder said, "We have been growing between 83% and 116 % YoY for the last 4 yrs (including Covid years). We are a capital-efficient company and have every internal process in place to run a very large company. We are solving retailing challenges for global brands like Puma, adidas, Bata, Levi's, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, Jack & Jones, Namshi, Aramex, Sephora, Amazon, etc. Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products."
Gaurav Sekhri, Principal, TVS Capital Funds said, "We are driven by innovative ideas and we support next-gen entrepreneurs. With the growth in e-commerce and disruptions in global supply chains, next-gen entrepreneurial ventures like Increff have demonstrated exceptional skill and grit in turning the tide in favor of brands with the use of the right technology solutions complemented with services. Increff's technology solutions are unique and built to instill flexibility for rapid growth for brands across categories. Their mindset of developing the best software products, non-compromising approach towards customer experience with an eye on the future, make them stand out. Increff marks our first investment from our third fund in the Indian SaaS & technology space that the fund is increasingly focusing on. We are very excited to partner with Rajul, Anshuman, Romil, and the Increff team in their growth journey to become a global supply chain SaaS player."
Sailesh Tulshan, Founder - 021 Capital - "For over 3 years, we have been investment partners with Increff in their exciting journey to transform merchandising and create innovative solutions for global supply chains. They have built a strong team that has shown tremendous performance by growing product revenue 20X since then and expanded to markets outside of India with their visionary world-class products. We wish the team continued success."
Atul Gupta, Partner, Premji Invest- "Increff is a fast-growing Saas company that is enabling brands to go Omni-channel using their innovative products. We are excited to partner with them in their journey of helping retail and e-commerce brands create a value-driven impact on millions of shoppers globally."
About Increff
Increff helps fashion brands & retailers optimize inventory and improve sales velocity by 2 to 3x via Increff WMS and Merchandising platforms. Backed by Binny Bansal, Sequoia, 021 Capital, TVS Capital, Premji Invest, and others. Increff solves retailing challenges for global brands like Puma, adidas, Bata, Levi's, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, Jack & Jones, Namshi, Aramex, Sephora, Amazon, etc.
For more information, visit www.increff.com.
SOURCE Increff
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