Online B2B logistics firm DCGPac raises Rs 5 cr from Venture Catalysts, 9unicorns, others
DCGPac.com, which claims to be India’s largest online business-to-business (B2B) packaging solutions and products company, has raised Rs 5 crore in its pre-Series A funding round led by incubator and accelerator platform Venture Catalysts, and a fund set up by Venture Catalysts–9unicorns, the company said in a statement on Tuesday.
DCGPac plans to use the funds in enhancing its technology and marketing, and in other growth-specific initiatives, the statement said. DCGPac claims to have sold more than 200 million products across India, till date.
“With this fundraiser, we also have opportunities to invest in disruptive models and technology, and establish ourselves tremendously,” said Suresh Bansal, founder, DCGPac.
In revenue terms, the company is growing more than 15% on a month-on-month basis. DCGPac also claims to be earnings before interest, tax, depreciation and amortisation (EBITDA)-positive. DCGPac primarily focuses on design, customisation, vendor management, distribution and technology, it said.
DCGpac is led by Suresh Bansal, a serial entrepreneur who has experience in packaging, logistics and technology domains. Many key managerial members in the company are from IITs and IIMs, the company said, and have previously worked for many years in supply chain and technology companies. DCGpac integrates the entire packaging industry ecosystem and offers design-to-deliver solutions to customers, the statement said.
“We lead consumer-led lives in the contemporary world, and packaging plays an important role within our economic ecosystem. As the packaging industry continues to grow at a 26% CAGR, we look forward to catalysing the expansion in this segment through our association with DCGpac.com,” said Dr Apoova Rajan Sharma, founder, president, Venture Catalysts and 9 Unicorns.
9unicorns has been investing aggressively in technology and other consumer companies of late. In October, the venture fund had co-led an $8 million financing round in Instoried Research Labs Pvt. Ltd, an artificial intelligence-based startup focused on content marketing. In the same month, the company had also invested in Melorra, a fine jewellery brand.
9unicorns is backed by global venture capital firms, limited partners, and family offices of large organisations such as The OPG Group, The MBG Group, and Parakh Foods. 9unicorns had earlier said that it has plans to invest in 150 startups over the next one year.
Credit: Source link
Comments are closed.