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Evenflow raises fresh funds from Venture Catalysts and others

Entrackr · 5m ago

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.