Increff, an Indian Supply Chain SaaS innovator offering inventory solutions for e-commerce, fashion, and retail brands, has raised US$ 12 million in its Series B funding round. TVS Capital Funds, Premji Invest, Binny Bansal’s 021 Capital, and 6 existing angels participated in this round. Focusing on expanding its global presence, Increff will utilise the funds for setting up offices and strengthening the local teams in the US and European region. Furthermore, the capital raised will be invested in adding visionary products, and services, to Increff’s portfolio for supply chain optimisation.
Increff offers a host of SaaS-based industry-agnostic merchandising solutions and smart warehousing solutions. As businesses around the globe begin 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 offered by Increff, brands, and retailers can easily adapt to the ever-changing consumer expectations through algorithm-based merchandise planning, pricing, allocation solutions, and achieve higher inventory accuracy and order fulfillment efficiency with warehousing solutions. Increff is well placed in solving the challenges of the customers for more than 10 retail verticals. Currently, they are market leaders in the fashion space in India and the Middle East and are seeing a growing clientele in the US and Europe.
Commenting on the same, Rajul Jain, CEO and Co-Founder said, “We have been growing between 83 per cent and 116 per cent YoY for the last four years (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 said, “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 and technology spac.”
