Arzoo bags $ 7.5 million funding, Zoom founder Eric Yuan invests around Rs 2 crore
Arzoo has raised $ 7.5 million in its Series A funding round led by Indus Age Partners and 3Lines Ventures. Arzoo is a B2B retail tech startup which enables physical retail stores to compete against e-commerce marketplaces.
The fresh funds will be utilized by the company to scale its operations in the eastern and western regions of the country as well as strengthen its technology platform Go Store.
Arzooo has allotted 20 equity and 4,832 Series A CCPS at an issue price of Rs 99,902 per share to raise the consideration, shows regulatory filings.
Indus Age and 3Lines poured in Rs 18.75 crore and Rs 11.05 crore respectively, followed by Jabbar Internet Group and Enam Investment & Services pouring in Rs 3.75 crore each. Zoom Founder Eric Yuan along with Treasure Data Chairman and angel investor Bill Tai have participated in the round and invested nearly Rs 2 crore each in the company.
Other angel investors including OYO’s Chief Strategy Officer, Maninder Gulati, Vivek Khemani and other have collectively poured in another Rs 7.5 crores in Arzooo.
As per news source, Arzooo has reached an estimated valuation of nearly Rs 234.5 crore or $32 million (post-money). So far, the four-year-old startup has accumulated around Rs 57 crore in total capital across three financing rounds.
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