Increff, a company that provides supply chain services for e-commerce, fashion, and retail brands, has raised $12 million in a funding round attended by TVS Capital Funds, Premji Invest, and Flipkart co-founder Binny Bansal’s 021 Capital
Increff, a software as a service specialist, will use the Series B funding for setting up offices, building teams in the US and Europe, and adding products and services. The funding round saw the participation of six existing angel investors.
“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. 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,” said Rajul Jain, CEO & co-founder of Increff.
Increff offers a host of SaaS-based merchandising solutions and smart warehousing solutions. A company press statement said it is “well placed in solving the challenges” of customers for more than 10 retail verticals.
“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,” said Gaurav Sekhri, Principal, TVS Capital Funds.
“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,” said Sailesh Tulshan, Founder of 021 Capital.