Bangalore based Bizongo raises $30 million in Series C funding [Latest]
It’s a deal! Bizongo, a Bangalore based B2B packaging marketplace, has completed their latest Series C funding round after raising $30 million at a $120-280 million valuation (16-25% equity stake) from Schroder Adveq, a global private equity fund in Switzerland. This is Bizongo’s third successful fund-raise, after securing their Series A round ($2 million) and Series B ($22 million) in 2015 and 2018 respectively.
Who raised? Bizongo.
Bizongo is a B2B packaging marketplace that takes of everything relating to packaging, thus providing a branded platform in a largely unorganized $72 billion Indian packaging industry. Founded in 2015 and based out of Bangalore, Bizongo has an impressive clientele, trusted by Amazon India, Tata Cliq, Sesa Care, FirstCry, Curefit, Myntra, Flipkart, MI, Bunge, Liso Chocolatier, Godrej Interio, Reliance Retail, Johnson & Johnson and others for their packaging needs.
Who funded? Schroder Adveq.
Located in Switzerland, Schroder Adveq is a leading asset manager investing in private equity on a global level, actively investing about $243 million in the last 12 months. Their most recent exit was for Amal Therapeutics, which was a $327 million buyout.
Bizongo Fund-Raise History:
- Series A: $2 million from IDG Ventures and Accel Partners in 2015
- Series B: $22 million from B Captial and IFC in 2018
- Series C: $30 million from Schroder Adveq in 2020