Get All Access for $5/mo

Bengaluru-Based Bizlog Raises INR 12 Cr In Pre-Series A Round Led By IAN Fund The company will utilize the fresh capital to develop its technology, create a roadmap to onboard new verticals and expand the business across India in the coming days

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Bizlog

Bengaluru-based reverse logistics solutions startup Deliveryontime Logistics, also known as Bizlog, on Tuesday announced that it has raised INR 12 crore in a pre-Series A round led by IAN fund. Paras Jain, founder of Adishwar, one of the largest chains of electronics retail in Karnataka, also participated in the round.

The company will utilize the fresh capital to develop its technology, create a roadmap to onboard new verticals and expand the business across India over the next few years.

Understanding the unmet demand of reverse logistics, H.S. Srinivasan, Krishnan Rajan and E.V. Shunmugam founded Bizlog in 2016. The startup offers services including buyback/exchange, rentals, waste management, e-commerce, re-commerce, etc., of mobiles at the doorstep of its customers.

Speaking on the announcement, Srinivasan, chief executive officer of Bizlog, said, "In the business value chain, reverse logistics is an untapped space that accounts for $13 billion market size, which is largely unaddressed. With disruptive, innovative, tech supported offerings, Bizlog is able to benefit its customers to reduce losses, bring in efficiency, provide superior consumer experience and add huge value into the complete supply chain ecosystem. Bizlog also offers comprehensive as well as custom-made reverse logistics solutions."

Commenting on the investment, Padmaja Ruparel, founding partner, IAN Fund, said, "With the growing need on electronic devices, reverse logistics is a growing need for the reuse of these products delivered at the customers' doorstep. Companies like Bizlog present sustainable solutions to the e-waste problem and are the need of the hour. IAN is excited with the potential that the team of Srinivasan, Krishnan and Shunmugam can create!"

The startup is currently operational in more than 30 cities and poised to grow multifold in the future. The startup is working with both large corporates and startups to solve their return management and return logistics issues.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

News and Trends

Ted Sarandos, Netflix Co-CEO, says, 'Heeramandi: The Diamond Bazaar is our biggest drama series to date in India'

As the SanjayLeela Bhansali-created web series Heeramandi: The Diamond Bazaar made a huge contribution to the second quarter 2024 earnings of Netflix, the company highlighted the show that celebrates a true-blue Indian story

Business News

Want to Start a Business? Skip the MBA, Says Bestselling Author

Entrepreneur Josh Kaufman says that the average person with an idea can go from working a job to earning $10,000 a month running their own business — no MBA required.

Leadership

Your Definition of Leadership Is Outdated — Here's How to Be a Better Leader in the Modern Workplace

In my nearly thirty years as a leader, I've focused on setting a clear vision and empowering my team to achieve our goals. We prioritize establishing shared objectives while allowing for flexibility when needed.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

They Showed Up to Apple With a Product They Built in Their Dorm Room. Now These Entrepreneurs Are on the Way to Changing the Way Fans Watch Sports.

How Rahat Kulshreshtha and Gaurav Mehta launched Quidich Innovation Labs, technology that is literally changing the game of sports viewership.

Leadership

Why Hearing a 'No' is the Best 'Yes' for an Entrepreneur

Throughout the years, I have discovered that rejection is an inevitable part of entrepreneurship, and learning to embrace it is crucial for achieving success.