Five-month-old ecommerce brand investor and operator, UpScalio, has disclosed that it has raised $42.5 million in funding as part of its Series A round. The startup partners with promising digital-first brands that sell on ecommerce marketplaces like Amazon, Flipkart, Myntra and Nykaa, and helps profitably scale them 5-10x. The startup now aims to invest in and grow ecommerce brands.
The funding round was led by Presight Capital and an undisclosed global hedge fund, with participation from Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital, and saw capital commitments from a consortium of lenders including freshly-minted unicorn OfBusiness, Innoven Capital, and Alteria Capital.
Prominent angels and advisors include Suhail Sameer (CEO, BharatPe), Radhika Ghai (Co-founder, ShopClues), Rohit Kapoor (CEO, OYO India & SEA), Arjun Vaidya (Founder, Dr. Vaidya’s), and Erik Podzuweit (Founder, Scalable Capital).
Speaking on the capital infusion, Gautam Kshatriya, CEO and Co-founder of UpScalio said,
“We feel privileged that so many leading investors and advisors have chosen to invest in us. We are also humbled by the talented ecommerce entrepreneurs that have built resilient businesses in the face of the pandemic and are grateful for their trust in partnering with us to scale their business. We take this responsibility very seriously. Which is why we have worked very hard to build an A-team of experts across ecommerce functions, ready to start scaling our partner businesses from Day 1.”
Despite this high growth environment, marketplace entrepreneurs are sometimes unable to achieve their full potential due to capital and operating constraints. Upscalio helps solve these challenges by not only providing funding but also helping in all key operations for its partner-businesses, including multi-marketplace management, digital marketing, branding, logistics, sourcing, finance and business operations - all optimised using advanced analytics.
Commenting further, Fabian Hansen, General Partner at Presight Capital, said, “Presight has been extremely impressed by the speed and quality of UpScalio’s execution. They’ve assembled a world-class team, so it’s no surprise that they’ve already been able to partner with so many high-quality ecommerce entrepreneurs. We are thrilled to be part of their journey.”
UpScalio also unlocks wealth for marketplace entrepreneurs, providing a full exit over time. Founded by former McKinsey & Company consultant Gautam, former Bain & Company consultant Saaim Khan, and former Disney Hotstar and Purplle marketing and growth executive Nitin Agarwal, Upscalio has built a team of over 50 specialists across functions with experience scaling successful ecommerce companies in India.
This team is expected to double to over 100 by the end of the year as the ecommerce accelerator launches operations with its partner businesses.
Adding to that, Ruchi Kalra, CFO of OfBusiness said, “Our financial services arm, Oxyzo, chose to partner with UpScalio because it was immediately clear to us that the team is highly disciplined and has a real depth of understanding of what it takes to grow their partners’ businesses.”
Edited by Anju Narayanan
Link : https://yourstory.com/2021/08/funding-alert-upscalio-discloses-fundraise-425million-seriesa-funding-ecommerce-startup
Author :- Sindhu Kashyaap ( )
August 17, 2021 at 07:28AM
YourStory