Prozo Secures ₹45 Crore in Pre-Series B Round Led by Sixth Sense Ventures

Supply chain company Prozo announced on Tuesday that it has raised ₹45 crore in a pre-series B round, which includes both equity and debt financing, led by Sixth Sense Ventures. Other notable participants in the round include JAFCO Asia and other prominent investors.

This funding round serves as a precursor to a larger series B round planned for FY24. The capital raised will be allocated towards expanding Prozo’s client base, enhancing its warehousing and logistics network, and further developing its Prozo Warehousing & Logistics SaaS platform, as per the company’s press release.

Ashvini Jakhar, founder and CEO of Prozo, likened the company to an operating system for supply chains, enabling brands of all sizes to tailor their supply chain using Prozo’s fulfilment and logistics network.

Prozo currently provides supply chain services to nearly 100 brands through a network of 30 omni-channel fulfilment centers across 12 locations. Established in 2015 and headquartered in Gurgaon, the company has raised a total of ₹131 crore in funding to date. Sixth Sense Ventures also led Prozo’s previous funding round of ₹76 crore in March 2022.

Nikhil Vora, founder and CEO of Sixth Sense, expressed satisfaction with Prozo’s rapid growth since their last investment. He highlighted that both large enterprises and fast-growing direct-to-consumer (D2C) brands, including Tata Consumer, Reliance, Hyundai, WH Smith, Snapdeal, Soothe Healthcare, Traya, Pepe Jeans, LEAP, and Vahdam, rely on Prozo for their supply chain management needs.

With supply chains becoming increasingly complex, Vora believes that Prozo is positioned to emerge as a market leader in its segment due to its comprehensive end-to-end supply chain capabilities.