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Tiger Global-Backed Packaging Startup Bizongo Secures $25 Mn To Offer Supply Chain And Credit Solutions To Businesses

B2B packaging startup Bizongo has secured $25 Mn from Liquidity Group’s fund— Mars Growth Capital.

Bizongo will use the capital to expand its footprint in Southeast Asia and grow its customer base for supply chain business.

“The funding will allow for 100% availability of packaging material and no-stock-outs at very low inventory level, as well as help Bizongo’s clients to reduce their made-to-order product line procurement cost,” said Yaron Primovich, managing director at Mars Growth Capital and the Global CRO of Liquidity Group.

Founded in 2015 by IIT graduates–Aniket Deb, Sachin Agrawal and Ankit Tomar, Bizongo is a tech-enabled B2B platform that offers packaging solutions across diverse sectors including consumer durables, fashion and lifestyle, textiles, consumer discretionary, pharmaceuticals, home and personal care.

Besides, Bizongo also offers supply chain automation and financing, and digital vendor management services via its proprietary digital platforms–Procure Live, Partner Hub, and Artwork Flow.

“Bizongo has powered Indian manufacturers to automate their supply chain, access working capital and increase their clientele. We want to bring similar benefits to manufacturers across SE Asia and help them scale. The credit line from Mars Growth Capital will fuel our expansion into more sectors,” Agrawal said.

Bizongo’s product offerings include carry bags, material handling equipment, protective packaging, pouches and tubes, packaging, containers, cans, shippers, paper products, bulk packaging and cartons. 

In March, Bizongo acquired IoT startup Clean Slate for an undisclosed amount. Prior to that, it bought back $3.7 Mn worth ESOPs in February this year.

In 2021, Bizongo secured $110 Mn in a Series D funding round at a post-money valuation of $600 Mn. The round was led by Tiger Global. 

 Tiger Global-Backed Packaging Startup Bizongo Secures $25 Mn. Congratulation to the entire team at bizongo. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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