Blubirch, a SaaS and AI-based automation-driven reverse supply chain management platform, said it has secured a funding of Rs 53 crore from Cornerstone Ventures and Capital2B.With this latest round of funding, the company has so far raised Rs 85 crore in fundings.
Blubirch said that the fundraise will help accelerate its growth, deepen its market presence across various retailer marketplaces and OEM ecosystems and further consolidate its position in reverse supply chain solutions in India, as well as across MENA and the Indo-Pacific.
Blubirch was founded by three IT veterans — Sapan Jain, who is the CEO, Jeby Cherian, the chairman and CEO and Amit Goel, the chief business officer and head of international expansion.Sapan Jain said, “The funds will be deployed towards enhancing product development, majorly increasing acquisition of India-based talent, expanding regional operational capabilities and accelerating market penetration.”
Retailers and OEMs have been grappling with the rising volume and value of returns across their channels. It is estimated that inefficiencies in managing customer and warranty returns have a 25% impact on the operating margins for both retailers and OEMs.
