Tiger Global leads $110m round of Indian B2B startup

Bizongo, an India-based B2B ecommerce and supply chain enablement platform, has raised US$110 million in a series D round led by Tiger Global Management. The fundraise, which values the firm at US$600 million, also saw participation from new investors CDC and IFC East Asia Fund.

(From left) Bizongo co-founders Sachin Agrawal, Aniket Deb, and Ankit Tomar / Photo credit: Bizongo

The funding round coincides with Bizongo’s launch of its “cloud factory” for made-to-order goods, which is powered by the internet of things. The cloud-based solution aims to give manufacturers real-time visibility, control, and insights over their supply chain. The company revealed that it has successfully piloted the solution at Ansapack, a pharmaceutical packaging manufacturer.

Bizongo focuses on digitizing the fragmented space of B2B customized goods in India. It offers solutions across digital vendor management, supply chain automation, and supply chain financing. The company works with more than 3,000 factories and has over 135 clients from different industries, including fashion and lifestyle, pharmaceuticals, ecommerce, and more.

The startup was founded by Aniket Deb, Ankit Tomar, and Sachin Agrawal in 2015.

Bizongo plans to use the fresh funds to ramp up its business and develop a suite of digital services. It will also make investments in strengthening its vendor partnerships and deploying its cloud-based solutions in more than 100 factories.

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Other investors in this round include:

• BCap
• Chiratae Ventures
• Schroder Adveq
• IFC
• Add Ventures by SCG
• Asian Paints vice chairman Manish Choksi