SUMMARY
This acquisition will integrate Industry 4.0 solutions – IoT and Real-Time Location Services (RTLS) - for production optimisation and capacity utilisation by manufacturers
The IoT-powered cloud factory will increase production visibility for micro, small and medium enterprises
Bizongo plans to deploy the cloud factory solution at three sites by July 2022
Mumbai-based B2B packaging and textile startup Bizongo has acquired internet-of-things (IoT) startup Clean Slate for an undisclosed amount.
Through this acquisition, the startup would equip Indian factories with its IoT-powered cloud factory solution by 2023.
Further, the acquisition will enable Bizongo to strengthen its technological infrastructure and provide local manufacturers access to automation and real time data analytics, which is critical for increasing their throughput.
The tech platform plans to integrate Clean Slate’s asset, goods, and people tracking features and sensors to generate data and insights about the operations of the factory.
According to the startup, the IoT-powered cloud factory will increase production visibility for MSMEs and their domestic as well as international customers.
It further said, the inter-connectivity between machinery will help small and medium manufacturers to limit supply chain disruptions, and reduce time and effort in raising invoices and undertaking collections. This in turn will empower manufacturers to boost exports, compete with global competitors and add value differentiation by visibility to customers.
Talking about MSMEs, Ankit Tomar, cofounder and CTO of Bizongo told Inc42, “The solution is a combination of AI, ML, Cloud, and IoT, which enables MSMEs to monitor the entire production line and shop floor in real-time.”
Customers can remotely track the status of their orders through a centralised and live dashboard. “This helps in building greater transparency and efficiency across the supply chain. Considering that MSMEs are manufacturers and suppliers of raw materials to large companies, the cloud factory solution will also enhance the latter’s efficiency,” he said.
Founded in 2015 by three IIT graduates Aniket Deb, Sachin Agrawal, and Ankit Tomar, Bizongo focuses on packaging, textiles, apparel and other contract manufacturing goods as its product portfolio and has a network of more than 3,000 partner factories.
The startup has collaborated with popular brands such as Walmart-owned Flipkart, IPO-bound Ecom Express, Tata Cliq, Firstcry, Licious, among others.
Bootstrapped startup Clean Slate Technologies was founded in 2016 by IIT Bombay and SRM Chennai alumni, Mayank Sharma, Siddharth Desai and Anubhaw Kumar. Its clients include companies across automotive, films and packaging, metals and engineering.
Bizongo’s Past Acquisition, Fund Raising & ESOP Buyback
Bizongo, in January this year, acquired a Bengaluru-based cloud platform Hexa, for college placements. With this acquisition, Bizongo aims to innovate and launch new products in the made-to-order segment in the coming months.
The B2B startup had raised $110 Mn in its Series D round led by Tiger Global at a $600 Mn valuation, as exclusively reported by Inc42 in December last year.
With this investment, Tiger Global has become the second-largest shareholder in the startup with a 8.15% stake on a fully diluted basis.
This B2B supply chain enablement startup completed its maiden Employee Stock Ownership Plan (ESOP) monetisation program last month. As part of the buyback program, as much as $3.7 Mn worth of ESOP was liquidated. Of the total 102 current and former employees eligible for the scheme, 70% opted for the buyback.
