Bizom Pockets $12 Mn To Help Retail Brands Boost Distribution Process

SUMMARY

Retail intelligence platform Bizom has secured $12 Mn (around INR 102 Cr) in a Series B funding round led by Pavestone VC, with additional participation from existing investor IndiaMART and other family offices

The company plans to boost innovations, including its advanced problem-solving AI-driven real intelligence initiative, support the development of delivery mechanisms and expansion of key accounts through this fund

Earlier this week, SaaS-based accounting startup HostBooks raised $5 Mn (around INR 42.4 Cr) as a part of its $15 Mn Series B funding round

Retail intelligence platform Bizom has secured $12 Mn (around INR 102 Cr) in a Series B funding round led by Pavestone VC.

While Pavestone infused $7.5 Mn into the startup, the round also saw participation from existing investor IndiaMART and other family offices.

The Bengaluru-based company plans to deploy the funds to boost innovations, including its advanced problem-solving AI-driven real intelligence initiative, while also supporting the development of delivery mechanisms and expansion of key accounts.

“This investment isn’t just capital—we are engineering the future of retail distribution through next-generation products like Real Intelligence infrastructure, agentification, voice recognition, and augmented reality to address real-world challenges faced by global retail enterprises,” said Lalit Bhise, chief executive of Bizom.

Lalit and Shree Bhise along with Vasudeva Manjunath founded Bizom in 2008, to streamline the route-to-market operations of retail brands via its vertical SaaS platform. Its platform enhances sales efficiency, product distribution, and retailer-brand relationships

The company claims to serve over 600 brands and 6 Lakh SKUs across 30+ countries, in industries such as CPG, dairy, and FMCG, by providing real-time visibility into ground operations and helps brands understand product demand in the market.

This development comes a month after Pavestone marked the final close of its Pavestone Technology Fund at INR 816 Cr (around $97 Mn), with an eye to invest in about 8-10 early growth stage companies with an average ticket size of $5-10 Mn.

This also comes at a time when there’s an uptick in funding among tech-based startups throughout the year.

As per Inc42’s data, Indian SaaS startups raised $915 Mn from investors till June 2024, 33% higher than H1 2023 ($683 Mn), which is nearly 18% of the total startup funding tally of $5.3 Bn in the first six months of 2024.

Earlier this week, SaaS-based accounting startup HostBooks raised $5 Mn (around INR 42.4 Cr) as a part of its $15 Mn Series B funding round, to expand its AI product suite, grow its global footprint and to strengthen the team across sales, product marketing and operations.