May 16, 2021

arzooo categorical: Retail-tech firm, Arzooo invests $2 million, forays into logistics

Arzooo, a retail-tech firm, introduced the launch of its in-house logistics service, Arzooo Categorical that may handle logistics from first mile service to final mile supply of products for its companion shops throughout the nation.

Arzooo Categorical has been launched with an funding of $2 million. This funding got here after the current $6 million funding raised by Arzooo from Trifecta Capital. In addition to having a fleet of autos plying round cities, the corporate has an end-to-end expertise platform to handle its provide chain on a real-time foundation. In first part it will likely be serving 10,000 pin codes throughout the nation with a fleet of vehicles.

The brand new service will assist Arzooo enhance it’s serviceability, pace of supply, broaden it’s pay on supply choice to bigger community together with effectivity in its provide chain operations.

By the tip of 2021, Arzooo goals to double its logistics service functionality to serving 20,000 pin codes throughout India with 3x bigger fleet on floor and cutting-edge provide chain expertise. At current, the logistics service will serve Arzooo’s personal consumer base. Nonetheless, the corporate could plan to increase Arzooo Categorical platform as a 3rd celebration service supplier in close to future.

In an announcement, Khushnud Khan, co-founder & CEO Arzooo stated, “We purpose to ship a stage of service for our retailers that’s sooner and dependable in relation to the turnaround time however with a fragmented community of logistics ecosystem with restricted capabilities to deal with massive home equipment it’s laborious to attain the pace and high quality of service.”

India has about 12 million retail shops the place the logistics service is the backbone for operating the enterprise enabling from side to side motion of products. In accordance with the Indian Model Fairness Basis (IBEF), India was ranked second within the 2019 Agility Rising Markets Logistics Index and the nation’s logistics sector was rising at over 10% annually.

To this point Arzooo has raised about $15 million of capital. This consists of Collection A spherical of $7.5 million funding led by WRVI Capital together with its present traders in October 2020, adopted by the funding from ZOOM video founder Eric Yuan, this was his first ever funding in an Indian begin up. Arzooo secured one other $6 million from Trifecta Capital earlier this yr.

(The one-stop vacation spot for MSME, ET RISE offers information, views and evaluation round GST, Exports, Funding, Coverage and small enterprise administration.)

Obtain The Financial Instances Information App to get Every day Market Updates & Reside Enterprise Information.