Bengaluru Based reverse logistics solution startup Bizlog raises Rs 12 crores in Pre-Series A funding round led by IAN fund.
The company will invest into its technology, marketing and expand its business into PAN India over the next few years.
Paras Jain, Founder of Adishwar – one of the largest chain of consumer durable and electronics retail in Karnataka, also participated alongside IAN fund in this round.
According to HS Srinivasan, CEO of Bizlog – reverse logistics solution is an untapped space which is $13 billion of worth and still unaddressed.
IAN Fund is an early stage funding company which invests into variety of startups including healthcare, business, technology, medical devices, virtual reality, artificial intelligence, fintech and big data.
IAN is looking to invest more than Rs.5000 crore in next 10 years in more than 500 companies.
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