Increff raises $12 mn in series-B led by TVS Capital Funds

Software-as-a-service provider Increff has raised USD 12 million (aroound Rs 82.62 crore) in its Series B funding round led by TVS Capital Funds, the company said.

Premji Invest, Flipkart co-founder Binny Bansal's 021 Capital, and six existing angels participated in this round.

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Supply chain SaaS provider Increff plans to use funds for setting up offices and strengthening the local teams in the US and European region, the company said on Saturday.

The capital raised will also be invested in adding visionary products, and services, to Increff's portfolio for supply chain optimization, the statement said.

"We have been growing between 83 per cent and 116 per cent year-on-year for the last four years (including Covid period). We are solving retailing challenges for global brands like Puma, adidas, Bata, Levi's, Pepe, Celio, Gap, Benetton, Tommy Hilfiger, Mango, CK, Louis Philippe, Van Heusen, Jack & Jones, Namshi, Aramex, Sephora, Amazon, etc.

"Now our focus will be on growing fast, taking our technology product as well as our warehousing services to the US and Europe in a big way, and adding visionary products," Increff CEO and co-founder Rajul Jain said.