Total amount raised
$8.4 Millions
Latest funding date
10/1/2023
Location
Blubirch has successfully raised $6.37 million in a Series A funding round, with backing from investors such as Capital 2B and Cornerstone Venture Partners Fund. The company offers a comprehensive reverse supply chain platform designed to optimize the management of returned, unsold, and unused technology assets.
Keep reading to explore the intricacies of Blubirch's fundraising journey and the investors backing this innovative platform.
What Is Blubirch?
Blubirch, founded in 2014, is headquartered in Bengaluru, Karnataka, India. The company specializes in reverse supply chain solutions, offering a platform to manage returned, unsold, and unused technology assets.
Co-founded by Sapan Jain and Jeby Cherian, Blubirch aims to maximize recovery and improve the lifecycle performance of IT assets for retailers, OEMs, and enterprises. Their end-to-end services cover various aspects of reverse logistics, including grading, returns processing, and liquidation.
With a team of 101-250 employees, Blubirch leverages automation to enhance efficiency and reduce operational costs, ultimately boosting revenue and customer satisfaction for its clients.
How Much Funding Has Blubirch Raised?
- Angel Round
- Amount Raised: $2M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Series A
- Amount Raised: $6.37M
- Date: October 2023
- Lead Investors: Capital 2B, Cornerstone Venture Partners Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, enhance product development, and expand into new markets.
Total Amount Raised: $8.37M. Current Valuation: Not publicly disclosed.
Key Investors
- Capital 2B
- Details: Capital 2B is a venture capital firm that focuses on investing in technology-driven startups. They aim to support companies that bring innovative solutions to market challenges.
- Investment Focus Areas: Technology, SaaS, AI.
- Notable Investments: Not publicly disclosed.
- Cornerstone Venture Partners Fund
- Details: Cornerstone Venture Partners Fund is a venture capital firm that invests in early-stage technology companies. They are known for backing startups that offer innovative solutions to complex market needs.
- Investment Focus Areas: Early-stage technology, AI, SaaS.
- Notable Investments: Not publicly disclosed.
What's Next for Blubirch?
Blubirch is poised to capitalize on significant opportunities, particularly in expanding its market presence in the Middle East and Southeast Asia. The company's AI-driven platform aims to revolutionize reverse supply chain management, addressing inefficiencies that impact operating margins for retailers and OEMs. This expansion could unlock substantial growth, given the projected $50 billion market size for returns automation by FY29-30.
Future fundraising seems likely as Blubirch scales its operations and enhances its technological capabilities. The recent Series A round has set a strong foundation, but additional capital may be needed to support international expansion and product development. However, the company will face challenges such as navigating regulatory landscapes and competing with established players in the reverse supply chain space.
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