Tech startup Arzooo raises $70 million


Arzooo, the business-to-business (B2B) retail tech startup, has raised $70 million in its Series B round from SBI Investment, a branch of Japan’s SBI Group, and the Trifecta Leaders Fund. DoorDash founder Tony Xu also invested in the current round, making Arzooo its first investment in India, the company said in a statement on Wednesday.

Existing investors Celesta Capital and 3 Lines VC also participated in this round. The company previously raised a Series A round from Celesta and 3 lines, followed by an investment from Zoom founder Eric Yuan. Including the latest fundraising, Arzooo has raised $85 million since its inception in 2018.

Arzooo will use these funds to scale its “tech powerhouse” focused on store growth and market expansion.

Founded by Khushnud Khan and Rishi Rathore, Arzooo is building a leading technology platform to transform offline retail in India. Its platform allows retailers to access a wide variety of Stock Keeping Units (SKUs) from leading and emerging brands. It helps retailers overcome challenges such as holding large inventory and accessing pricing.

“While the past decade has been about the proliferation of new age economies, the internet was still seen as a rival to offline retail and the retail community has been a target for some time. Today , technology is advancing rapidly in brick and mortar and we are excited to be at the forefront of this revolution while catalyzing it by enabling next-generation retail for neighborhood store lakes. essentially the barrier of size, scale and capital for small and medium stores while democratizing retail in India,” said Khushnud Khan, co-founder and CEO of Arzooo. of 1.4X, added Khan.

The company says India’s consumer electronics market is a $65 billion opportunity. “We are delighted to partner with Arzooo and scale India’s leading B2B platform for consumer durables and electronics. This is a large consumer category that is ripe for disruption by the efforts of companies like Arzooo, especially in non-metro markets,” said Lavanya Ashok, Partner at Trifecta Capital.

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