Tiger Global backs Bizongo for better supply chains

B2B tech company Bizongo has raised $110m in Series D funding led by New York-based Tiger Global Management, a report from Finextra has revealed.

The round saw new investments from CDC and IFC EAF and saw participation from existing investors BCap, Chiratae Ventures, Schroder Adveq, IFC and Add Ventures by SCG. Manish Choksi, a member of Bizongo’s Advisory Board and the vice chairman at Asian Paints, also invested in his personal capacity in the round.

The company will use the funding to ramp up its business and tech teams to develop a suite of digital services for both sides of the marketplace. It will also invest in nurturing its vendor partnerships and transform over 100 factories into true cloud factories through its proprietary solutions.

Bizongo also launched a ‘cloud factory’ product for made-to-order goods. This SaaS based solution will enable manufacturers to provide their customers with real-time visibility, control, and intelligence across the entire supply chain.

Founded in 2015 and headquartered in Mumbai, Bizongo is an online B2B marketplace catering to the diverse packaging and material handling industries. It strives to make packaging sourcing, distribution, inventory management, and design hassle-free for enterprises.

The company’s automated supply chain platform ensures availability of packaging for business with lower inventory, tackling challenges such as inventory stock out, excess inventory, and obsolescence that are common for enterprises.

Sachin Agrawal, co-founder at Bizongo said, “There is a lot of untapped potential in the way Indian businesses can leverage technology to grow and thrive. Bizongo offers solutions across digital vendor management, supply chain automation and supply chain financing to its enterprise customers. It enables them to digitise their entire vendor ecosystem and build integrated and connected supply chain processes.”

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