Mumbai-based warehousing and fulfilment services provider Emiza Supply Chain Services Pvt. Ltd raised Rs37.5 crore in a Series B funding round. The funding round was led by JM Financial Private Equity, among others. The firm said it plans to use the fund for its expansion plans.
Mayfield India, an existing investor in Emiza, also participated in the Series B fund raise. Proceeds from the investment will support augmentation of the existing technology infrastructure, foray into last-mile operations, and expansion of the company’s operations into other geographies.
Emiza caters to the warehousing and fulfilment needs of direct-to-consumer (D2C) brands as well as SMEs and large corporates selling online. Through its network of warehouses in eight cities across India, the company provides services including storage, picking, packing, and labelling. The company has over 100 customers which include leading D2C brands as well as large enterprises and SMEs across Beauty and Personal Care, Fashion and Accessories, Home and Kitchen, and Food and Beverages.
“India’s e-commerce market has witnessed a massive surge in terms of demand and purchase over the last few years across metros and Tier II & III cities, driven by the growing internet penetration and smartphone usage, and change in the buying behavior of consumers. To drive business and leverage the emerging growth opportunities, D2C brands and other companies selling online need to provide superior customer experience. That’s where Emiza comes in. We believe the fundamental shift in consumers’ purchasing behaviour, and their penchant for D2C and online retail is here to stay. With a strong emphasis on enhancing customer experience, increasing efficiency and reducing cost, Emiza has developed a strong value proposition,” said Darius Pandole, Managing Director & CEO, PE & Equity AIFs, JM Financial.
The company was founded by Ajay Rao who has worked in the logistics sector through decades across India and the US.
“Our company has scaled up rapidly over the last three years, and we envisage even faster growth over the next few years. This growth capital infusion and partnership with a seasoned investor like JM Financial Private Equity will help us accelerate our current expansion plans and add other service lines to the business, including a last-mile platform to offer a complete suite of services to our customers,” said Ajay Rao, CEO, Emiza.
This is the tenth investment from JM Financial’s Fund II, and is in line with its stated strategy of investing in growth –oriented companies in the mid-market space.