Presight Capital and an undisclosed global hedge fund have conducted a Series A funding round in Gurugram-headquartered UpScalio, which aggregates and invests in e-commerce brands.
Heliad Equity partners, MPGI, 468 Capital and Whiteboard Capital also participated, according to a statement.
The cycle also saw engagements from top angel investors, including BharatPe CEO Suhail Sameer, ShopClues co-founder Radhika Ghai. CEO of OYO India and South East Asia Rohit Kapoor, Arjun Vaidya, founder of Dr Vaidya’s and Erik Podzuweit, founder of Scalable Capital.
The five-month-old UpScalio is the latest addition to the Thrasio model which has garnered significant investor interest in recent months. Massachusetts-based unicorn Thrasio acquires and evolves brands for sale on e-commerce platforms. In India, Mensa brands founded by former Myntra CEO Ananth Narayanan, FirstCry supported GlobalBee and Fireside supported 10Club, among others have adopted a similar model.
Founded in April 2021, UpScalio provides funds to digital brands selling in e-commerce markets like Amazon, Myntra, Flipkart and Nykaa and manages key operations for them including multi-market management, digital marketing, branding. brand, logistics, procurement, finance and business operations.
The company was founded by former consultant at McKinsey & Company Gautam Kshatriya, Saaim Khan, former consultant at Bain & Company and former head of marketing and growth at Purplle, Nitin Agarwal.
“We are also touched by the talented e-commerce entrepreneurs who have built resilient businesses in the face of the pandemic and we are grateful for their confidence in partnering with us to grow their business. We take this responsibility very seriously, ”said Kshatriya, CEO of UpScalio in the statement.
The company claims to increase digital brand activity 5-10 times, delivering full output to entrepreneurs over time. The company has assembled a team of 50 specialists across all functions to help digital brands scale their businesses, with the intention of doubling the team to 100 by the end of the year.
According to the release, UpScalio has also partnered with the SME-focused finance arm of OfBusiness and Oxyzo to provide working capital to the companies they partner with.