The Series D funding brings Bizongo to a $600M valuation. Here are the top-line bullets you need to know.
Bizongo, a B2B packaging marketplace, has raised $109M in a Series D round that drew participation from Tiger Global Management, AddVentures, the B Capital Group, and the CDC Group, among others.
How’s the company performing?
- India-based Bizongo offers industry packaging supplies for the retail, e-commerce, food and beverage, hospitality and restaurant, industrial logistics, and FMCG industries.
- The company provides vendor management, supply chain automation, and artwork management services via its Procure Live, Partner Hub, and Artwork Flow products.
- Bizongo has 120 clients, including Flipkart, BigBasket, Delhivery, Teabox, Nykaa, Swiggy, and Tata Cliq.
- The company has established partnerships with 1,500 manufacturers, and it manages around 2M tonnes of material each month.
Why does the market matter?
- The global B2B e-commerce market is expected to reach a value of $25.65T by 2028, growing at a CAGR of 18.7%, according to Grand View Research.
- Several vendors have adopted digital transformation initiatives to ensure smooth operations, which has increased the demand for technologies to help manage online shopping operations, payments processing, and more.
- The onset of the Covid-19 pandemic and subsequent rise in online purchase volume have also contributed to market growth.