Evenflow, a Bengaluru-based e-commerce rollup startup with a mission to raise over 100 digital-first brands, has raised closing its Pre-Series A round of $5 million.
This funding round was led by Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket, and other angel investors.
Evenflow is planning to utilize the fresh funding in the following ways:
Evenflow, a startup that sells on e-commerce marketplaces like Amazon, Flipkart, Meesho, JioMart, and others, and helps to scale them profitably.
Evenflow was founded by Utsav Agarwal and Pulkit Chhabra in May 2021. The company acquires and scales up third-party sellers on marketplaces through operational intelligence across the value-chain -- marketing, branding, cataloging, supply chain, sourcing, channel expansion, etc. It focuses on making multi-crore brands across categories except for home and kitchen, baby care, sports and fitness, gardening, etc.
“We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months. Our team is committed to scaling these small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem,” said Utsav Agarwal, Co-founder, and CEO at Evenflow.
"India's digital-first online brands is going to be a $100 billion opportunity over the next 4-5 years. However, these brands currently cannot scale up despite having done business on top e-commerce platforms. With Evenflow, several of these brands can become Rs 100 crore brands in a short time, and we are very optimistic about Evenflow's capacity to build and grow these brands,” he added.
Anne Dwane, Partner at Village Global, said, "We loved the team at Evenflow and the way they are approaching the space in their unique way. We share their vision and the speed at which they have been building capabilities. We are thrilled to back the team and support them in their endeavor with our learnings and our network of LPs.”