Evenflow, an e-commerce roll-up platform, has raised an undisclosed amount in an ongoing Series A funding round totaling $5 million from Venture Catalysts, Sunder Ramachandran, and a few angel investors.
Evenflow raised an undisclosed amount in a bridge round last October. To date, Evenflow has raised nearly $14 million.
The fresh funds raised will be used to grow and further improve the bottomline across all their multi-brand portfolio — Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware.
“We are a low-margin business. With scale, we are beginning to see backend synergies play out, with our downstream cost per unit reducing by the month and further flexibility to stress test the end customer pricing upwards or downwards – thus turning our big bets SKUs into a profitable engine. We plan to make this engine more robust,” said Utsav Agarwal, CEO and Co-founder of Evenflow.
“Additionally, India’s buying behaviour is changing significantly over the last 3-4 quarters on the back of qcommerce – it’s a unique opportunity for brands like ours to scale, and be available to be delivered within 10mins – something we are laser focussed on,” he added.
Dr. Apoorva Ranjan Sharma, Co-founder of VCats & 100Unicorns, said, “Evenflow is one of the few companies that are profitable in this space. Their innovative approach and commitment to operational excellence continue to set them apart. We are proud to have supported Evenflow from the beginning, and we look forward to seeing how they leverage this investment to further enhance their growth trajectory and redefine e-commerce success.”
Sunder Ramachandran, co-author of HeadStart, said, “Unlock the Secrets to Career Success and Head – Transformation & Commercial Excellence, Emerging Market, Dr. Reddy’s Laboratories, said, “Evenflow is combining data, digital, and sharp execution to build consumer brands that last. Their focus and discipline give me confidence that they’re not just scaling fast, they’re scaling right.”
Founded in 2021 by Utsav Agarwal and Shashank Ranjan, Evenflow acquires and scales e-commerce brands.
Evenflow identifies and acquires marketplace businesses and integrates the business across the value chain – sourcing, supply chain, warehousing, inventory, marketplace listings, accounting & finance, making the transition smooth and effortless.
Currently, the brands are present in India and the US, and claim to have 350% growth by selling their products on online marketplaces, as per the company. Evenflow brands sell across various platforms such as Amazon, Flipkart, Cred, Zepto, Instamart, and others.
Evenflow has received funding from 100unicorns, Village Global, Equanimity, Kunal Shah, Vijay Shekhar Sharma, Emil Michael, Sandeep Varaganti, Srinath Rajam, and many others in several rounds.
Evenflow aims to increase its revenue by 10x and profits by six-fold by 2027 through building a strong core team, scaling the business, and maintaining a healthy bottom line.
