Total amount raised
$17 Millions
Latest funding date
Location
Increff has successfully raised significant funding over multiple rounds, with its latest being a Series B round. The company is backed by notable investors, including TVS Capital Funds and 021 Capital.
Keep reading to explore the intricacies of Increff's fundraising journey and the investors backing this innovative platform.
What Is Increff?
Increff, founded in 2016, is a data and technology company based in Bangalore, Karnataka, India. The company was established by Anshuman Agarwal, Nirmal Jain, Rajul Jain, and Romil Jain.
Specializing in retail technology solutions, Increff helps fashion and lifestyle brands improve inventory turns through omnichannel retailing and intelligent merchandise planning. With an employee count ranging from 251 to 500, the company offers tech-driven SaaS solutions to simplify supply chain complexities for retail and e-commerce brands.
How Much Funding Has Increff Raised?
- Seed Round
- Amount Raised: $2M
- Date: December 2016
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to kickstart the business and develop its SaaS solutions.
- Series A
- Amount Raised: $3M
- Date: January 2019
- Lead Investors: 021 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand their services, likely to enhance their technology and market reach.
- Series B
- Amount Raised: $12M
- Date: February 2022
- Lead Investors: TVS Capital Funds, Premji Invest, 021 Capital
- Valuation at Round: $73M
- Motivation Behind the Round: To expand services to Europe and the U.S., grow technology solutions, enhance warehousing services, add new products, train existing employees, and hire new talent to support expansion and growth.
Total Amount Raised: $17M. Current Valuation: $73M.
Key Investors
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, the founder of Wipro. It focuses on making long-term investments in various sectors, including technology, consumer, and healthcare.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Flipkart, PolicyBazaar, Lenskart.
- TVS Capital Funds
- Details: TVS Capital Funds is a Chennai-based private equity firm that focuses on investing in mid-sized companies in India. They aim to support businesses in their growth phase by providing capital and strategic guidance.
- Investment Focus Areas: Financial services, technology, consumer.
- Notable Investments: Nykaa, Go Digit General Insurance, RBL Bank.
- 021 Capital
- Details: 021 Capital is an investment firm founded by Binny Bansal, co-founder of Flipkart. The firm focuses on early-stage investments in technology, biotechnology, and agriculture.
- Investment Focus Areas: Technology, biotechnology, agriculture.
- Notable Investments: Ather Energy, SigTuple, Increff.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for investing in early and growth-stage companies. It has a global presence and a strong track record of successful investments.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Apple, Google, WhatsApp, Airbnb.
- Six Angel Investors
- Details: A group of six angel investors participated in Increff's funding rounds. These investors typically provide early-stage capital and strategic guidance to startups.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Increff?
Increff is poised for significant growth as it expands into the lucrative US and European markets. With a recent $12 million Series B funding round, the company plans to scale its tech team, strengthen sales and marketing efforts, and add new products and services to its portfolio. This expansion presents a substantial opportunity, given the high demand for supply chain optimization solutions in these regions.
Future fundraising opportunities seem promising, as Increff's aggressive growth plans and impressive year-over-year growth rates make it an attractive prospect for investors. The company may seek additional funding to support its expansion and product development, potentially attracting more global investors.
However, Increff will face challenges such as navigating the competitive landscape in new markets, managing regulatory complexities, and ensuring the scalability of its technology and services. Despite these hurdles, the company's strategic focus on innovation and market penetration positions it well for continued success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Increff and gather other critical business insights. Sign up for free to start optimizing your sales strategies today.
