Funding Roundup: Zepto, Xpressbees, Refurbed and Others Radiate Success with Funding Milestones
It has been a great couple of weeks for startups in the e-commerce, logistics and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 6 of their notable achievements:
Zepto Series E Funding
Mumbai-based Zepto, known for its rapid 10-minute delivery of groceries and essentials, has achieved a significant milestone in 2023. It became the sole newcomer to India's unicorn club this year, reaching a valuation of $1.4 billion. Recently, the quick commerce company bolstered its financial standing by securing $31.25M in a Series E funding round. This round, spearheaded by Goodwater Capital and Nexus Venture Partners, will facilitate Zepto's expansion into new Indian cities and drive further product development.
Year Founded: 2021
Founder(s): Aadit Palicha and Kaivalya Vohra
Location: Mumbai, India
Latest Funding: $31.25M
Lead Investor(s): Goodwater Capital and Nexus Venture Partners
Xpressbees, an Indian logistics startup catering to a diverse clientele including e-commerce and pharmaceutical companies, has successfully raised $80M in a funding round spearheaded by the Ontario Teachers' Pension Plan. Currently operating across more than 2,000 cities and serving over 1,000 clients, Xpressbees processes in excess of 2.5 million orders each day. This new influx of capital will bolster the company's continued growth and fuel technological innovation within the logistics sector.
Year Founded: 2015
Founder(s): Amitava Saha
Location: Pune, Maharashtra, India
Latest Funding: $80M
Lead Investor(s): Ontario Teachers' Pension Plan
ShippyPro Series B Funding
ShippyPro, an Italian shipping software provider, streamlines logistics for businesses with services such as multi-carrier rate comparison, label generation, and tracking. It supports thousands of clients across 36 countries, processing millions of shipments every month and boasts integrations with over 165 carriers and 85 sales channels. With the recent injection of $15M from a Series B funding round led by Five Elms Capital, ShippyPro is poised for global expansion and continued innovation in the logistics space.
Year Founded: 2016
Founder(s): Francesco Borghi and Lorenzo Rogai
Location: Florence, Italy
Latest Funding: $15M
Lead Investor(s): Five Elms Capital
ReturnGO Seed Funding
ReturnGO, an Israeli startup specializing in e-commerce returns and exchanges, has secured $5M in funding led by Trestle Partners to scale its operations and expand its market reach. The company, having served over 2,500 merchants worldwide, offers solutions designed to streamline the post-purchase experience and bolster both customer satisfaction and merchant profitability. With this recent capital infusion, ReturnGO is poised to enhance its global footprint and operational capabilities.
Year Founded: 2020
Founder(s): Aviad Raz, Assi Abramovitz and Eyal Rosenthal
Location: Tel-Aviv, Israel
Latest Funding: $5M
Lead Investor(s): Trestle Partners
Refurbed Series C Funding
Refurbed, an Austrian-based marketplace for refurbished electronics, aims to support the company’s mission to normalize the refurbishment of consumer electronics as a sustainable choice. The company aims to build consumer trust in refurbished products and contribute to the circular economy. The company raised $57M in a Series C funding round led by Evli Growth Partners and C4 Ventures, where the funds will be used to expand the company across Europe.
Year Founded: 2017
Founder(s): Peter Windischhofer, Kilian Kaminski, and Jürgen Riedl
Location: Wien, Austria
Latest Funding: $57M
Lead Investor(s): Evli Growth Partners and C4 Ventures
Vaaree Seed Funding
Vaaree, an emerging player in the Indian home furnishings and decor sector, strives to bridge the market gap by delivering superior and accessible decor solutions. Since its online debut in May, the company has rapidly progressed, inaugurating its first physical store in Bengaluru. Bolstered by a $4M seed investment from a consortium of investors, Vaaree is well-positioned to accelerate its growth, expand its team, and improve its online presence.
Year Founded: 2022
Founder(s): Garima Luthra, Pranav Arora, and Varun Vohra
Location: Bengaluru, India
Latest Funding: $4M
Lead Investor(s): Surge and Peak XV
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