Retail technology startup Bizom, which helps retail brands optimize their distribution process, has raised its Series B funding round of $12 million led by Pavestone with the contribution of $7.5 million alongside participation from IndiaMART, an existing investor, and other family offices.
Founded in 2008, Bizom will deploy new capital towards scaling its platform that helps brands with real-time downstream trade visibility and enhance their sales efficiency with full-suite B2B sales force automation. The investment will also be used towards the development of delivery mechanisms and the expansion of key accounts, Pavestone said in a statement.
“The investment isn’t just capital—we are engineering the future of retail distribution through next-generation products like real Intelligence infrastructure, agentification, voice recognition, and augmented reality to address real-world challenges faced by global retail enterprises,” said Lalit Bhise, CEO, Bizom.
The startup said it serves over 600 retail brands from industries such as CPG, dairy, and FMCG and 6 lakh SKUs across over 30 countries.
Speaking on the investment, Srikanth Tanikella, Managing Partner, Pavestone, said, “Their (Bizom) platform is trusted by several FMCG enterprises and empowers them to drive growth by streamlining distribution and enabling faster insights into the market. This investment is in line with the focus of our fund’s Investments.”
Pavestone is a Hyderabad-headquartered venture capital firm with Rs 816 crore SEBI-registered alternate investment fund focusing on early-stage B2B technology companies.
Bizom had earlier raised $7.8 million in eight rounds and had last raised $1.35 million in Series A funding from IndiaMART in October 2021 at a valuation of $19.8 million, according to the data from Tracxn.