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Evenflow raises bridge round, eyes public listing by 2027

EntrackrEntrackr · 9m ago
Evenflow raises bridge round, eyes public listing by 2027
Medial

E-commerce roll-up platform Evenflow has raised an undisclosed amount in a bridge round from serial entrepreneur Shail Patel and some existing investors as part of its ongoing $5 million Series A round. The funds will be used to expand operations and grow its seven acquired homegrown brands — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware. The company aims to increase these brands’ global presence by entering new markets. This fundraise follows recent efforts to strengthen supply chain, marketplaces, D2C, and quick commerce, with new appointments and the elevation of Shashank Ranjan to co-founder. Evenflow operates in India and the U.S., claiming 350% growth on marketplaces like Amazon, Flipkart, CRED, Zepto, and Instamart. The company has outlined a long-term plan to increase revenue by 10X and profits six-fold by 2027. However, these projections may be challenging to achieve, as many roll-up platforms face scaling difficulties. In a media statement, co-founder and CEO Utsav Agarwal shared that the firm aims to prepare for an IPO by the end of 2027. Ecommerce roll-up companies were hot in 2021 and the space also delivered two unicorns —Mensa and Globalbees in the year along with 10club which raised $40 million in one of India’s largest seed rounds. However, the euphoria subsided with the wind up of global posterboy Tharasio and tougher funding environment. As a result, funding for these firms sharply declined over the past two years, from $540 million in 2021 to $70 million in 2022, $78 million in 2023, and $39 million in the current calendar year. While some, like Mensa, secured additional debt, GlobalBees and Goat Brand Labs took over 24 months to do so. 10club shifted focus to consumer brands, and Powerhouse91 and Upscalio haven’t raised funds in over two years. Amazon aggregator Thrasio faced near bankruptcy but recently emerged from Chapter 11 and appointed Stephanie Fox as its new CEO.

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Evenflow raises fresh funds from Venture Catalysts and others

EntrackrEntrackr · 3m ago
Evenflow raises fresh funds from Venture Catalysts and others
Medial

House of brands Evenflow has raised an undisclosed amount in an ongoing Series A funding round totaling $5 million from Venture Catalysts, Sunder Ramachandran, and a few angel investors. The company had raised an undisclosed amount in a bridge round last October. To date, Evenflow has raised nearly $14 million. It has received funding from 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, Srinath Rajam, and many others across several rounds. The proceeds will be used to grow and further improve the bottom line across all of its multi-brand portfolio — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware, Evenflow said in a press release. Founded in 2021 by Utsav Agarwal and Shashank Ranjan, Evenflow acquires and scales e-commerce brands. The company acquires and grows third-party brands that sell on e-commerce marketplaces. After acquisition, it optimizes the businesses by managing inventory, performance marketing, merchandising, and more. Evenflow says that with its downstream cost per unit reducing month by month and increased flexibility to stress test end-customer pricing—either upwards or downwards—it is turning high-bet SKUs into a profitable engine. It plans to make this engine more robust. The Mumbai-based company claims to have a presence in India, the US, and the MENA region, and has experienced healthy 350% growth by focusing on distribution across marketplaces and quick commerce platforms—Amazon, Flipkart, CRED, Myntra, Blinkit, Instamart, Zepto, Walmart, and others. Evenflow aims to increase its revenue by 10x and profits by sixfold by 2027 through building a strong core team, scaling the business, and maintaining a healthy bottom line.

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