In a significant development for Bengaluru-based Arzooo, a trailblazer in the retail tech space, the company has successfully raised additional capital from its existing investors as part of its extended Series B funding round. The exact amount and the names of investors involved in this round remain undisclosed.
Arzooo initially made waves in June 2022 when it secured $70 million in Series B funding from a consortium of investors, including prominent names such as SBI Investment, 3 Lines, Trifecta Capital, and Tony Xu, the founder of DoorDash. Known for its mission to enable brick-and-mortar stores to establish a robust online presence, Arzooo has been making strides in reshaping the retail landscape.
The fresh infusion of capital is set to propel Arzooo’s strategic initiatives, focusing on bolstering its technological infrastructure, enhancing operational efficiency, and intensifying its efforts in the consumer durables market within India. The company, founded in 2018 by former Flipkart executives Khushnud Khan and Rishi Raj Rathore, has been a key player in empowering offline electronic stores by granting them access to competitive pricing and an expansive logistics network, ultimately facilitating increased in-store sales conversions.
Arzooo’s commitment to innovation and adaptation is evident in its recent endeavors. The company recently unveiled gostor.com, a consumer platform designed to assist partner offline stores in seamlessly transitioning to the online realm. This business-to-consumer (B2C) platform serves as a gateway for retailers to directly sell their products to consumers, fostering business growth by participating in the burgeoning online sales landscape and reducing dependence on traditional in-store foot traffic.
Moreover, Arzooo has expanded its footprint in the white goods sector with the introduction of NU, a consumer durable brand launched last year. This strategic move aligns with the company’s vision of deepening its vertical integration in the consumer electronics platform. Arzooo’s approach empowers retailers by providing them access to a diverse range of products from various brands, thereby enabling them to scale their businesses without the limitations imposed by traditional sourcing or selling practices.
In a statement, Arzooo emphasized the significance of its deep vertical integration, stating that it empowers retailers to scale their businesses by offering access to a wide array of products from different brands. This approach allows retailers to overcome the constraints associated with traditional sourcing and selling methods, marking a pivotal shift in the dynamics of the consumer electronics market.
As Arzooo continues to redefine the retail landscape, the extended Series B funding signifies a vote of confidence from existing investors, propelling the company into the next phase of growth. With its focus on technological innovation, strengthened infrastructure, and an unwavering commitment to empowering offline retailers, Arzooo remains poised to shape the future of retail tech in India and beyond.
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