Sunder Ramachandran, Venture Catalysts, and a few angel investors have contributed an undisclosed sum to Evenflow’s ongoing $5 million Series A funding round.
Last October, the business raised an undisclosed sum in a bridge round. Evenflow has so far raised almost $14 million. Throughout multiple rounds, it has been funded by 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, Srinath Rajam, and numerous others.
Evenflow said in a press release that the money will be used to expand and enhance the profitability of all of its multi-brand portfolio, which includes Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware.
Evenflow, which was established in 2021 by Utsav Agarwal and Shashank Ranjan, buys and grows e-commerce companies. Third-party brands that sell on online marketplaces are acquired and expanded by the company. Following acquisition, it streamlines operations through merchandising, performance marketing, inventory management, and other areas.
Evenflow claims that it is transforming high-risk SKUs into a lucrative engine by decreasing its downstream cost per unit month after month and giving it more flexibility to stress test end-customer pricing, either upward or downward. It intends to strengthen this engine.
According to the Mumbai-based company, it has a presence in India, the US, and the MENA region. By concentrating on distribution across marketplaces and quick commerce platforms, including Amazon, Flipkart, CRED, Myntra, Blinkit, Instamart, Zepto, Walmart, and others, it has seen a healthy 350% growth.
Evenflow plans to scale the company, maintain a healthy bottom line, and build a solid core team in order to increase revenue by ten times and profits by six times by 2027.
