Evenflow, an India-based ecommerce roll-up startup, has raised US$5 million in a pre-series A round from Village Global, 9Unicorns, and others.
Evenflow co-founder and CEO Utsav Agarwal/ Photo credit: Evenflow
The startup aims to profitably scale up over 100 digital-first brands that sell on ecommerce marketplaces like Amazon and Flipkart.
Evenflow, founded by former Uber executives Utsav Agarwal and Pulkit Chhabra in May 2021, has acquired seven brands and launched two private labels so far. It aims to develop over 20 Indian brands over the next 12 to 18 months.
The startup will use the funds raised in this fresh round to expand its team, conduct acquisitions, and enhance its technology and operations. It currently has a team of 45 people with diverse work experiences in companies like Flipkart, Amazon, Udaan, and Uber.
See also: Roll-up ecommerce flexes its muscles in India
Other investors in the round include
- LetsVenture
- Shiprocket
- Emil Michael, former chief business officer at Uber
- Vijay Shekhar Sharma, founder and CEO of Paytm
- Kunal Shah, founder and CEO of Cred
- Nimesh Kampani, co-founder and CEO of Trica
- Sandeep Varaganti, chief executive of marketplace at Reliance Retail
- Abhishek Nag, former director of business development at Netflix
- Sony Joy, former vice president of Truecaller
- MageHold, a Hong Kong-based micro-fund
- Moving Capital, an Uber alumni syndicate
- MyAsiaVC
Editing by Miguel Cordon and Jaclyn Tiu
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