Bizongo secures B2B Startup $25 million funding from Mars Growth Capital

Bizongo, an Indian B2B Startup network for made-to-order items that technologically enhances vendor management and delivery networks, received a $25 million investment from Mars Growth Capital of the Liquidity Group. Bizongo plans to utilise the money to grow both its distribution network clients and footprint in Southeast Asia.

“The funding will allow for 100% availability of packaging material and no stock-outs at very low inventory levels, as well as help Bizongo’s clients to reduce their made-to-order product line procurement costs,” said Yaron Primovich, managing director at Mars Growth Capital and the global CRO of Liquidity Group.

Bizongo supplies cartons, containers, sachets, and bags for businesses in the food and hospitality, consumer goods, and retail industries. BigBasket, Nykaa, Swiggy, Delhivery, Teabox, and Tata Cliq are just a handful of its clients. It has warehouses in Mumbai, Bengaluru, and Delhi.

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One of the company’s co-founders, Sachin Agarwal, commented on the situation by saying, “Bizongo has enabled Indian businesses to streamline their supply chains, obtain working capital, and grow their customer base. We wish to assist firms in SE Asia in scaling up by providing them with comparable advantages. Our development into other industries will be fueled by the credit line from Mars Growth Capital.

A technologically advanced B2B Startup platform called Bizongo offers packaging solutions for a range of industries, including durable products, apparel and lifestyle, textiles, consumer discretionary, pharma, home, and personal care.

Ankit Tomar, Sachin Agrawal, and Aniket Deb, all IIT grads, started it in 2015. The company has more than 300 commercial clients and more than 3,000 associate factories thanks to its portals, Procure Live and Partner Hub.

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The business focuses on packaging, linens, apparel, and other contract manufacturing commodities, and it now has a network of over 6,300 partner firms. Using its own distinctive digital platforms like Procure Live, Partner Hub, and Artwork Flow, Bizongo offers corporate clients crucial services like Digital Vendor Management, Supply Chain Automation, and Supply Chain Financing.

In March, B2B Startup Bizongo paid an undisclosed amount to acquire the IoT firm Clean Slate. Prior to that, in February of this year, it repurchased ESOPs for $3.7 million. Bizongo raised $110 million in a Series D financing round in 2021, valued at a post-money $600 million.

In the round, Tiger Global seized the lead. According to a report, India’s packaging industry, which was pegged at $50.5 billion in 2019 but is expected to grow to $204.81 billion by 2025 with a CAGR of 26.7 percent between 2020 and 2025, would likely experience significant growth.

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