Mumbai Mumbai-based warehousing and fulfillment service provider Amiza Supply Chain Services Pvt. Ltd. raised Rs 37.5 crore in Series B funding round. The funding round was led by JM Financial Private Equity. The firm said it plans to use the fund for its expansion plans.
Mayfield India, an existing investor in Amiza, also participated in the Series B fund raising. The proceeds from the investment will help in augmentation of existing technology infrastructure, entry into last mile operations and expansion of the company’s operations in other geographies.
Amiza caters to the warehousing and fulfillment 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 warehousing, picking, packing and labeling. The company has over 100 clients that include leading D2C brands as well as large enterprises and SMEs in Beauty & Personal Care, Fashion & Accessories, Home & Kitchen and Food & Beverages.
“India’s e-commerce market has seen a huge jump in demand and purchases in metros and Tier II and III cities over the years, driven by rising internet penetration and smartphone usage and changing buying behavior of consumers. . To drive business and take advantage of emerging growth opportunities, D2C brands and other companies selling online need to deliver superior customer experiences. This is where Amiza comes in. We believe that the fundamental shift in consumer buying behavior, and their shift to D2C and online retail, will continue to be here. With an emphasis on enhancing customer experience, enhancing efficiencies and reducing costs, Amiza has developed a strong value proposition,” said Darius Pandole, Managing Director and CEO, PE & Equity AIF, JM Financial.
The company was founded by Ajay Rao, who has worked in the logistics sector for decades in India and the US.
“Our company has grown rapidly over the past three years, and we envisage even faster growth in the next few years. This growth capital investment and partnership with an experienced investor like JM Financial Private Equity helps us in our current expansion plans. will help accelerate and connect other service lines in the business, including a last-mile platform to offer our customers a complete suite of services, said Ajay Rao, CEO, Amiza.
This is the tenth investment by JM Financial’s Fund II, and is in line with its stated strategy of investing in growth-oriented companies in the mid-market space.