Arzooo raises $70 million to bring 'best of e-commerce' to brick-and-mortar stores in India –
Summary
Arzooo, an Indian startup trying to bring the best of e-commerce to brick and mortar stores, has raised $70 million in a new round of funding as it aims to scale its platform to more cities.SBI Investment and Trifecta Leaders Fund led the Series B financing of the Bengaluru-headquartered startup. They dont have such a good margin chain as, for example, Reliance Retail and Croma and Amazon. We work with most major manufacturers and national distributors today, he said.These stores, which typically range in size from 700 to 1,200 square feet, clock in between $12,500 and $19,000 in sales each month. They provide 75% of all consumer durables in India, Khan said.Arzooos business model is highly capital efficient and able to meet the increasingly diversified needs of both stores and end customers. Its also great that theyve built a functional, proprietary logistics system, which is one of the most important parts of the business.