Funding Roundup: Zepto, Xpres...

Funding Roundup: Zepto, Xpressbees, Refurbed and Others Radiate Success with Funding Milestones

Nov 10, 2023
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 Funding

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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