SaaS Startup Blubirch Secures $6.37 Million in Series A Funding The startup aims to utilize the funds to accelerate the growth of the company and strengthen its market presence across various retailer marketplaces and OEM ecosystems. This will also help in solidifying it as a leader in reverse supply chain solutions in India, and across MENA and the Indo-Pacific in the near future
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Blubirch, a SaaS and AI-based automation-driven reverse supply chain management platform, announced it had raised USD 6.37 million in a Series A funding round led by Cornerstone Ventures [CSVP Fund] and Capital2B.
The startup aims to utilize the funds to accelerate the growth of the company and strengthen its market presence across various retailer marketplaces and OEM ecosystems. This will also help in solidifying it as a leader in reverse supply chain solutions in India, and across MENA and the Indo-Pacific in the near future.
"We are thrilled to have secured this significant round of funding, which will empower us to continue our mission of revolutionizing the reverse supply chain. The funds will be deployed towards enhancing product development, majorly increasing the acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration. A key component of our growth strategy is our international foray into the MENA–GCC market. This is a key strategic move backed thoroughly by our investors, CSVP Fund and Capital2B. It is a testament of our commitment to build a global Automated Returns Management ecosystem with international clientele in the e-commerce, retailer and OEM marketplaces," said Sapan Jain, CEO, Blubirch.
Founded by Sapan Jain, Jeby Cherian, and Amit Goel, Blubirch's Returns Automation and Monetization Platform solutions have helped retailers, e-commerce players, brands, marketplaces and OEMs across the reverse supply chain to identify invalid returns at source and manage the automated processing of returns at scale. This includes customer returns [online/offline], dealer returns, e-commerce returns — as well as warranty claims, trade-in [exchange] returns, lease returns or internal returns.
"We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs' decisions on the disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply chain for its customers, taking the value proposition beyond reverse automation," shares Abhishek Prasad, Managing Partner, Cornerstone Venture Partners Fund.
With this capital infusion, Blubirch's total funding touches USD 10.2 million.
Amit Behl, Partner, Capital 2B adds "Returns and warranty management is a fairly complex, often ignored and underappreciated area. Blubirch management has a deep domain understanding of this space and their platform can help retailers and OEMs deliver better customer experience and reduce working capital cycles."
"The new market category created by Blubirch — Returns Automation Platform as a Service [RA–PaaS] has the potential to reach US$50 billion by FY29–30," also read the release.