Blubirch’s Series A funding round was led by Cornerstone Ventures and Capital2B
The fresh funds will be used to deepen presence across markets and accelerate growth
Blubirch offers a complete reverse supply chain management solution with its AI and ML-powered Returns Automation and Monetisation Platform
Blubirch, which provides a SaaS and AI-based reverse supply chain management platform to enterprises, has raised $6.4 Mn (INR 53 Cr) in its Series A funding round led by Cornerstone Ventures and Capital2B.
Blubirch said it will use the fresh funds to accelerate its growth and deepen its market presence across various retailer marketplaces and original equipment manufacturers’ (OEMs) ecosystems.
The capital infusion would also help the startup further solidify its position in reverse supply chain solutions in India, and across MENA and the Indo-Pacific region in the near future, it said in a statement.
Founded in 2014 by IT veterans Sapan Jain, Jeby Cherian, and Amit Goel, Blubirch offers a complete reverse supply chain management solution with its AI and ML-powered Returns Automation and Monetisation Platform, enabling real-time returns tracking. It claims to help minimise product returns, eliminate waste, and increase product lifespan.
Including its latest round, Blubirch has raised $10.2 Mn (INR 85 Cr) in funding so far.
“The funds will be deployed towards enhancing product development, majorly increasing acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration,” said Jain, CEO of Blubirch. “A key component of our growth strategy is our international foray into the MENA-GCC market.”
While retailers and OEMs grapple with an increasing volume and value of returns, Blubirch claims that its solutions have helped them automate the returns management process, improve transparency and compliance, and improve their operating margins by 300 basis points.
Blubirch claimed that Returns Automation Platform as a Service (RA–PaaS), a new market category created by the startup, has the potential to reach a size of $50 Bn by FY29-30.
“We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs’ decisions on disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply-chain for its customers, taking the value proposition beyond reverse automation,” said Abhishek Prasad, managing partner of Cornerstone Venture Partners Fund.
In the reverse supply chain management space, Blubirch competes with the likes of Ecom Express, Delhivery, Xpressbees, Blue Dart, and others.
