Increff, an Indian supply chain SaaS firm providing inventory optimization solutions for e-commerce, fashion, and retail brands has secured $12 million via its Series B round.
Increff’s investment round included contributions from TVS Capital Funds, Premji Invest, Binny Bansal’s 021 Capital, and 6 existing angels took part in the raise as well. Focusing on expanding its international presence, Increff will use the proceeds to utilize the funds for setting up offices and strengthening the local teams in the US and European region.
The capital raised will be “invested in adding visionary products, and services, to Increff’s portfolio for supply chain optimization.”
As noted in a release, Increff offers a host of SaaS-based industry-agnostic merchandising solutions and smart warehousing solutions. As businesses throughout the world start to recover from the impact of the COVID-19 pandemic, brands are “pinning their hopes on cutting-edge tech solutions to navigate through intense price pressures, inventory mismanagement issues, demand fulfillment challenges, etc.”
Leveraging intelligent automation tools provided by Increff, brands, and retailers can “adapt to the ever-changing consumer expectations through algorithm-based merchandise planning, pricing, allocation solutions, and achieve higher inventory accuracy & order fulfillment efficiency with warehousing solutions.”
Increff is well placed in addressing the challenges of the clients for more than 10 retail verticals. At present, they are key players in the fashion space in India and the Middle East and are “seeing a growing clientele in the US and Europe.”
Rajul Jain, CEO & Co-Founder said:
“We have been growing between 83% and 116 % YoY for the last 4 yrs (including Covid years). We are a capital-efficient company and have every internal process in place to run a very large company. We are solving retailing challenges for global brands like Puma, adidas, Bata, Levi’s, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, Jack & Jones, Namshi, Aramex, Sephora, Amazon, etc. Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products.”
Gaurav Sekhri, Principal, TVS Capital Funds added:
“We are driven by innovative ideas and we support next-gen entrepreneurs. With the growth in e-commerce and disruptions in global supply chains, next-gen entrepreneurial ventures like Increff have demonstrated exceptional skill and grit in turning the tide in favor of brands with the use of the right technology solutions complemented with services. Increff’s technology solutions are unique and built to instill flexibility for rapid growth for brands across categories. Their mindset of developing the best software products, non-compromising approach towards customer experience with an eye on the future, make them stand out. Increff marks our first investment from our third fund in the Indian SaaS & technology space that the fund is increasingly focusing on. We are very excited to partner with Rajul, Anshuman, Romil, and the Increff team in their growth journey to become a global supply chain SaaS player.”
Sailesh Tulshan, Founder – 021 Capital noted that for more than three years, they have been investment partners with Increff in their journey to transform merchandising and “create innovative solutions for global supply chains.”
They have established a solid team that has shown steady performance by growing product revenue 20X since then and “expanded to markets outside of India with their visionary world-class products.”