UpScalio, a five-month-old e-commerce brand investor and operator, has announced that it has raised $ 42.5 million in a Series A round of funding.The business works with promising digital-first brands that sell on e-commerce marketplaces such as Amazon, Flipkart, Myntra, and Nykaa to help them scale 5-10x profitably.
Suhail Sameer (CEO, BharatPe), Radhika Ghai (co-founder, ShopClues), Rohit Kapoor (CEO, OYO India and SEA), Arjun Vaidya (founder, Dr. Vaidya's), and Erik Podzuweit are among the prominent angels and advisors (founder, Scalable Capital).
"We're also humbled by the talented e-commerce entrepreneurs who have established resilient businesses in the face of the epidemic, and we're appreciative for their trust in collaborating with us to scale their businesses," said Gautam Kshatriya, UpScalio's CEO and co-founder.“This is a serious duty for us”.
This is why we've worked so hard to assemble an A-team of e-commerce professionals that are ready to start scaling our partners' businesses from day one.
UpScalio was formed by Gautam Kshatriya, a former McKinsey & Company consultant, Saaim Khan, a former Bain &Company consultant, and Nitin Agarwal, a former Disney Hotstar and Purplle marketing and growth executive.It has amassed a staff of over 50 experts from various roles who have scaled successful e-commerce businesses in India.
As the e-commerce accelerator begins operations with its partner businesses, this crew is likely to increase to over 100 by the end of the year.
Presight Capital managing partner Fabian Hansen commented, "The speed and quality of UpScalio's execution has been really impressive."
"They've put together a world-class team, so it's no wonder that they've already partnered with so many top-notch e-commerce entrepreneurs."We are ecstatic to be a part of their adventure.”The Indian e-commerce market is one of the fastest-growing in the world, with annual growth rates of more than 35% predicted over the next five years.The pandemic has sped up this trend, with e-proportion commerce's of retail sales more than doubling in the last year.Despite the strong growth environment, due to financing and operating constraints, marketplace entrepreneurs are not always able to reach their full potential.Upscalio assists its partners in overcoming these obstacles by not only providing financing but also taking full responsibility for all important operations.Multi-marketplace management, digital marketing, branding, logistics, sourcing, finance, and business operations are all areas where sophisticated analytics may help.UpScalio also unlocks money for marketplace entrepreneurs along the road, allowing for a full exit over time.