Mumbai, Mar 15:
Upscalio, an e-commerce buy-and-build start-up, has raised USD 15 million in pre-Series-B funding round, led by Gulf Islamic Investments with participation from a consortium of lenders including Northern Arc and Unity Bank.
The latest round comes shortly after its Series-A round, wherein it had mopped up USD 42.5 million last August, it said in a note on Tuesday.
Upscalio acquires stakes in high-growth e-commerce brands that sell on Amazon, Flipkart, other marketplaces, and their own websites, and then works closely with founders to scale these brands over a two-three year period.
The house of brands with 13 labels in the utility consumer goods space on its platform, the Gurugram-based start-up was founded in April 2021 by former McKinsey consultant Gautam Kshatriya, former Bain & Company consultant Saaim Khan, and former Disney Hotstar and Purplle marketing and growth executive Nitin Agarwal.
Its portfolio of 13 brands is across utility categories such as home & kitchen, furniture, auto accessories and lawn & gardening.
Gulf Islamic Investments manages an AUM of USD 3 billion spanning over private equity and real estate globally, is looking to build on its portfolio.
Its investment in Upscalio marks its sixth investment in its second Indian growth portfolio launched in 2021 consisting of opportunities across technology-based consumer and healthcare segments. (PTI)
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