Bizongo provides an end-to-end automated solution for businesses across industries to procure primary, secondary and tertiary packaging

The Bizongo team

Mumbai-based Bizongo, an online B2B platform for packaging solutions in India, has raised US$22 million in Series B round of funding led by B-Capital, a VC firm owned by Facebook Co-founder Eduardo Saverin.

International Finance Corporation, a member of the World Bank Group, besides its existing investors Accel India and IDG Ventures also participated .

With this funding, the company will majorly focus on advancing its platform and design functions. With established offices in Delhi and Bangalore, the company will also be strengthening teams across cities and expanding to Southeast Asia.

The company had previously raised US$3 million in Series A round.

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Founded in 2015 by Aniket Deb, Sachin Agrawal and Ankit Tomar, Bizongo provides an end-to-end automated solution for businesses across e-commerce, retail, restaurant & hospitality, FMCG, industrial logistics, food & beverage to procure primary, secondary and tertiary packaging. From addressing customisation issues to building logistics solutions, Bizongo aims to build a packaging ecosystem by partnering with suppliers from across India and aggregating packaging demands for clients.

Co-founder and CEO Deb said: “When Bizongo was started, our vision was to empower businesses using technology by building a sustainable ecosystem. This vision has culminated into what Bizongo is today. With investment from B-Capital we look forward to leverage on their expertise in the Southeast Asian markets, which will help us in our journey to scale up. On the other hand, IFC’s interest in the B2B e-commerce space and their deep network in the financial ecosystem will only help us refine our model further.”

Bizongo has also introduced a data-driven business model to improve efficiency across the entire value chain. On the supplier side, Bizongo caters to SME suppliers and provides them with working capital solutions. On the other hand, it removes sellers’ need to deal with multiple point of contacts at different organisations.

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