New Delhi, March 6 (IANS) Rural e-commerce startup Rozana on Wednesday announced that it has received $22.5 million in the latest funding round.
The round was led by the investment firm Bertelsmann India Investments (BII) with participation from the VC firm Fireside Ventures and existing investors.
“With this funding, we will continue building out our logistics and supply chain infrastructure to reach new districts and empower rural communities with access to essential products,” Ankur Dahiya, CEO and Co-founder of Rozana, said in a statement.
The company said that the new capital will be used to expand Rozana’s warehousing and logistics reach into new districts, enhance its technology platform, and boost hiring across technology, product and operations teams.
“Rozana’s focus on providing a wide range of products across categories in rural markets and the unique background of their founders make them well-poised to build a very successful business,” said Kanwal Singh, Founder and Managing Partner, Fireside Ventures.
Rozana has a presence and operates across 13 districts spanning Uttar Pradesh and Haryana, facilitated by an extensive network of about 18,000 peer partners.
“The opportunity in rural India is greatly underappreciated and this team is the ideal one to unlock it,” said Rohit Sood, Partner at Bertelsmann India Investments.
Founded in 2021 by Dahiya, Adwait Vikram Singh, Mukesh Christopher and Prithvi Pal Singh, Rozana operates an e-commerce platform and logistics network focused exclusively on serving the needs of rural communities in India.
–IANS
shs/svn
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by BhaskarLive.in and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of BhaskarLive.in We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, BhaskarLive.in takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
