Evenflow Brands (Evenflow), an India-based e-commerce rollup firm, announced Thursday the closing of its pre-series A round of $5 million.

The round saw participation from Village Global, 9Unicorns, Venture Catalysts, LetsVenture, Shiprocket, and marquee angel investors such as Emil Michael (Ex-Chief Business Officer at Uber), Vijay Shekhar Sharma (Founder and Chief Executive Officer of Paytm), Kunal Shah (Founder and Chief Executive Officer of CRED), Nimesh Kampani (Co-Founder and Chief Executive Offcier of @ Trica), Sandeep Varaganti (Chief Executive Officer of Marketplace Reliance Retail), Abhishek Nag (Ex-Director of BD @ Netflix), Sony Joy (Ex-Vice President of Truecaller), MageHold (Hong Kong-based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and a few others, Evenflow said in a statement.

The startup which aims to develop over 20 such Indian brands over the next 12 to 18 months will use the funds raised in this fresh round to expand its team size, acquisition and enhance its tech and operations.

“We have acquired seven brands and launched two private labels and managed to scale our brands steadily in the last 12 months. Our team is committed to scaling these fantastically built small businesses into everyday brands. We feel very grateful for the interest we are getting from key partners in the ecosystem.” said Utsav Agarwal, Co-Founder and Chief Executive Officer at Evenflow.

Evenflow was founded by Former Uber Executives Utsav Agarwal & Pulkit Chhabra in May 2021. It acquires and scales-up third-party sellers on marketplaces through operational intelligence across the value-chain — marketing, branding, cataloguing, supply chain, sourcing, channel expansion, etc. It focuses on creating multi-crore brands across categories where consumers do not have branded options like home & kitchen, baby care, sports & fitness, gardening, etc.

With a mission to scale up over 100 digital-first brands, the startup partners with promising digital-first brands that sell on e-commerce marketplaces like Amazon, Flipkart, Meesho, JioMart and others, and helps to scale them profitably. The company is a team of 45 people with diverse work experience – ranging from Flipkart, Amazon, Udaan, Uber, Lifelong to others.

“We are thrilled to be a part of the Evenflow team and their continuous effort to remove all operational barriers for brands in the ecommerce space. Together we aim to enable small-medium scale sellers to expand their presence on the top e-commerce platforms and work efficiently and efficiently,” said Vishesh Khurana, Co-Founder of Shiprocket.

Meanwhile, Anne Dwane, Partner at Village Global, said :”We loved the team at Evenflow and the way they’re approaching the space in their unique way. We share their vision and the speed at which they’ve been building capabilities. We are thrilled to back the team and support them in their endeavour with our learnings and our network of limited partners.”

Dr. Apoorva Ranjan Sharma, Founder of Venture Catalysts and 9Unicorns, added :”India’s digital-first online brands is going to be a $100 billion opportunity over the next 4-5 years. However, these brands currently cannot scale up despite having done business on top e-commerce platforms. With Evenflow, several of these brands can become Rs 100 crore brands in a short time, and we are very optimistic about Evenflow’s capacity to build and grow these brands.”

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