Reverse Logistics Startup Bizlog Raises Rs 12 Crore From IAN Fund

• Bizlog enables re-commerce and circular economy through a unique reverse logistics engine.
• The startup will use this funding to expand its presence, further develop the technology, and create a roadmap to onboard new verticals.

Bangalore-based reverse logistics startup Bizlog (Deliveryontime Logistics Pvt. Ltd.) raises Rs 12 crore (or about $1.6 million) in its pre-Series A funding round led by IAN Fund (Indian Angels Network).

Paras Jain, Founder of Adishwar India Limited, one of the largest online electronics retail chain in Karnataka, also participated in the funding round.

The startup will use this funding to further develop the technology, create a roadmap to onboard new verticals, and expand its business presence in the country over the next few years.

In November last year, Indian Angels Network (IAN), a group of individual angel investors, introduced Rs 375 crore (or about $50 million) early-stage/angel fund which invests in startups in various sectors including biotech, healthcare, SaaS, online marketplaces, fintech, big data, AI (Artificial Intelligence), VR, Medical services, agritech, and hardware.

"We want to provide a platform for startups to get mentoring and early-stage funding so that they can build a team and scale-up, as we make sure they don’t fall over the brink," said Padmaja Ruparel (Founding Partner of the IAN Fund).

“With the growing need for electronic devices, reverse logistics is a growing need for the reuse of these products delivered at the customers’ doorstep. Companies like Bizlog present sustainable solutions to the e-waste problem and are the need of the hour," said Padmaja Ruparel, Founding Partner, IAN Fund.

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“In the business value chain, reverse logistics is an untapped space that accounts for $13 billion market size, which is largely unaddressed,” said HS Srinivasan (CEO of Bizlog).

According to the reports, IAN has plans to invest Rs 5000 crore in 500 companies, making it the single largest fund to invest in early-stage startups.

About Bizlog - Bizlog is a Bangalore-based reverse logistics startup founded in 2016 by Srinivasan, Krishnan Rajan, and E.V. Shunmugam. The startup focuses on providing end-to-end reverse logistics solutions to businesses. Alongside this, Bizlog offers buyback/exchange, rentals, waste management, e-commerce, re-commerce type of services at the doorstep of its customers.

The startup is currently operating in more than 30 cities and plans to grow multifold in the near future.

Bizlog is headquartered in Bengaluru and has its offices in Hubli, Mysore, Jaipur, Ludhiana, Vijayawada, Panchkula, Pune, Hyderabad, Delhi, Baroda, Ahmedabad, Mumbai, Chennai, Noida, and Kolkata.

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