Increff is a firm which offers supply chain and warehousing solutions to offline stores. Recently, it raised $3 million in funding. This was through its Series A funding round, which was led by Binny Bansal and 021 Capital. The firm, with these funds, plans to diversify to bigger markets and enhance its products.
Bengaluru: This financial year is already proving to be a good one for startups. With multiple startups scoring desired funds, the market is seeing tremendous growth opportunities. The newest firm to be spotted by investors is Increff. It offers supply chain and warehousing solutions to offline stores. It also helps in mobilizing working capital for inventory financing to its customers. Additionally, it also provides centralized cataloging and listing services.
The startup mainly works with two SaaS solutions: IRIS and Azure. It aims to deliver a significant increase in sales and margins along with reducing the working capital for brands and retailers.
Increff gets fresh funds
INCREFF aims to become the most impactful technology solutions company in the world, focused on making supply very efficient. We’re excited to have partners like Binny Bansal, Sequoia, 021 Capital on board who provide not only capital, but also vast experience in our domain.
–Rajul Jain, Co-Founder & CEO, INCREFF.
These funds will help the firm foray into unexplored domains. The company plans to use these funds to fuel its expansion plans. Increff plans to put efforts into expanding its customer pipeline and enhance its product quality. Additionally, it also wants to step into foreign markets.
In 2017, the startup had raised $2 Mn in a seed funding round, led by Sequoia Capital and other angel investors.
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With these funds, the list of this startup’s clients and offered services is bound to grow.