Bizongo is a technology-enabled organization which; is a B2B platform providing solutions to vendor digitisation, raw material procurement, ESG scorecards, and supply chain management. This is an e-commerce platform and supply chain management for apparel, packaging articles, and customized products. It aims to transform the unorganized and fragmented B2B section of customized products. The organization manages the apparel, textiles, packaging and other contract manufacturing articles depending upon the product portfolios.
Bizongo Founding Story
Bizongo is a Mumbai-based start-up company founded in the year 2015. It was founded; by three IIT graduates, Sachin Aggarwal, Aniket Deb, and Ankit Tomar. The company is one of the emerging unicorns, holding a base of 1500 manufacturers curated under the various categories offered by the Bizongo platform. The services offered under various categories are driven by the use of technology which enables the customers to simplify the complexities of their businesses. The raw material procurement is done with the AI-powered technology of the platform which helps you see the latest raw materials with their prices, and a list of vendors with the raw material at the best possible price thereby boosting profitability.
Bizongo Working
Vendor Digitisation works by transforming your supply chain digitally through the embedded financing system of the platform. It works by integrating your supply chain with your vendors by getting them online and providing access to financing over the financial network of the B2B platform. The AI-driven technology helps you remove any delays in the supply chain management, seamless transactions and tracking of goods easy.
There is also a speedy supply chain management provided in terms of financing by the financial network of the vendors required by the businesses. Better finances, in hand, help you increase you’re buying power, supply your other business needs, and meet the better demand and supply in the market.
There is also an ESG scorecard, provided by the platform to assess the business on various criteria. It evaluates the compliance on the various Environmental, Social, and governmental factors. This scorecard helps you improve your business and gives you an edge over the other competitors. A better ESG scorecard would increase your brand value; increase your reach to bigger enterprises, and save any unnecessary costs.
Bizongo Funding
The company is funded; by a total of 22 investors while, 11 being the lead investors. The most recent investors who were a part of the funding round are Schroder Adveq and International Finance Corporation. The company raised a total amount of $315.3M in the Series E funding done over 12 rounds. The lead investors of the company are Chiratae Ventures, Schroder Adveq, B Capital, International Finance Corporation, Mars Growth Capital, CDC Group, British International Investment, Bruno E. Raschle, and Satya Dharma Investment.
Bizongo Acquisitions and Future
Bizongo has a total of three acquisitions namely, Factory Plus, Clean Slate Technologies, and Hexa. Factory Plus is the most recent one in November 2023. The company aims to improve the platform solutions under the supply chain category with this acquisition. It will improve the cycle of cash flow through embedded financing such as Insta-e-way billing, Insta- Invoicing, and Insta POD by integrating and improving supply chain management. Bizongo has surely, created an impact in the market with its growing technological platform. It is a great place to optimize your business needs in terms of efficiency and growth.
