Rural-focused e-commerce startup Rozana announced on Wednesday that it has secured $22.5 million in its latest funding round. Leading the investment was Bertelsmann India Investments (BII), joined by venture capital firm Fireside Ventures and existing investors.
Ankur Dahiya, CEO and Co-founder of Rozana, expressed excitement about the funding, stating, "This investment will fuel our efforts in expanding our logistics and supply chain infrastructure, enabling us to reach more districts and provide rural communities with essential products."
The company plans to utilize the fresh capital to extend its warehousing and logistics capabilities into new districts, enhance its technological platform, and ramp up hiring across its technology, product, and operations teams.
Kanwal Singh, Founder and Managing Partner of Fireside Ventures, praised Rozana's strategy of offering a diverse range of products across rural markets, noting the unique background of its founders as a strength for building a successful business.
Rozana currently operates across 13 districts in Uttar Pradesh and Haryana, leveraging a network of approximately 18,000 peer partners to facilitate its operations.
Rohit Sood, Partner at Bertelsmann India Investments, emphasized the significant potential in rural India and expressed confidence in Rozana's ability to capitalize on it.
Established in 2021 by Ankur Dahiya, Adwait Vikram Singh, Mukesh Christopher, and Prithvi Pal Singh, Rozana operates an e-commerce platform and logistics network tailored specifically to meet the needs of rural communities in India.
Read also | Byju's Legal Showdown: Investors and Edtech Company Clash in NCLT
Read also | Edtech unicorn PhysicsWallah registers 91% drop in net profit
