Even flow Brands (Evenflow), an eCommerce rollup said it has closed a funding of $5 million from a clutch of investors.
The startup partners with digital-first brands that sell on eCommerce marketplaces like Amazon, Flipkart, Meesho, JioMart, and others, and helps to scale them profitably.
The firm 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, Paytm), Kunal Shah (founder, CRED), Nimesh Kampani (cofounder, Trica), Sandeep Varaganti (chief executive officer (CEO) of Marketplace Reliance Retail), Abhishek Nag (ex-director, Netflix), Sony Joy (ex-vice president, Truecaller), MageHold (HongKong based micro fund), Moving Capital (Uber alumni syndicate), MyAsiaVC and a few others.
“We have acquired 7 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,” said Utsav Agarwal, cofounder at Evenflow.
Evenflow aims to develop over 20 such Indian brands over the next 12-18 months.
The startup will use the funds raised in this fresh round to expand its team size, acquisition, and enhance its tech and operations.
Evenflow, which aims to scale up over 100 digital-first brands, was founded by former Uber executives Agarwal and Pulkit Chhabra in May 2021.
It acquires and scales-up third-party sellers on marketplaces through operational intelligence across the value chain — marketing, branding, cataloging, supply chain, sourcing, channel expansion, etc.
It also focuses on creating multi-crore brands across categories where consumers do not have branded options like home and kitchen, baby care, sports and fitness, gardening, etc.
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