Retail tech platform Arzooo raises $70 mn
Retail technology platform Arzooo has raised $70 million in a new funding round backed by leading global and Indian VCs including SBI Investment, Japan and Trifecta Leaders Fund. Tony Xu, the Founder of Doordash has also invested in the current round, making Arzooo his first India investment.
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Hyderabad: Retail technology platform Arzooo has raised $70 million in a new funding round backed by leading global and Indian VCs including SBI Investment, Japan and Trifecta Leaders Fund. Tony Xu, the Founder of Doordash has also invested in the current round, making Arzooo his first India investment.
Arzooo will utilize its latest funding to scale its technological might focused on scaling stores' growth end-to-end and market expansion for the platform as the company continues to deepen its vertical play in the $65 billion consumer electronics market in India.
Along with SBI Investment, an arm of Japan's SBI Group, and Trifecta Leaders Fund, existing investors including Celesta Capital and 3 Lines VC also participated in this round. The company had previously raised a Series A from Celesta and 3 lines, followed by an investment from Zoom founder Eric Yuan.
Speaking on the funding, Khushnud Khan, Co-founder & CEO, Arzooo, said: "We're pleased to welcome new set of investors to the Arzooo rocketship with this round that was oversubscribed by 1.4X. While we truly appreciate the interest from the investor community, we're really glad to get onboard some amazing set of people with shared vision to transform offline retail joining the board."
Founded by Khushnud Khan and Rishi Rathore, Arzooo is building India's leading tech platform for transforming offline retail. Arzooo's platform provides retailers access to a wide variety of SKUs across leading and emerging brands. Arzooo has a pan-India presence and is already powering over 30,000 retailers allowing them to scale without the challenges of extensive inventory holding and access to pricing.
