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Blubirch, an AI-based reverse supply chain management platform has secured Rs 53 crore ($6.37 million) in series A round funding from Cornerstone Ventures (CSVP Fund) and Capital2B.
This funding will be used to accelerate the company’s growth and expand its footprint in retailer marketplaces and OEM ecosystems, further strengthening its position in the reverse supply chain sector in India, as well as in the MENA and Indo-Pacific regions.
Founded by Sapan Jain, Jeby Cherian, and Amit Goel, Blubirch’s solutions allow retailers and OEMs to automate the returns management process, and improve transparency and compliance while helping them improve their operating margins by 300 basis points.
Speaking about the investment in Blubirch, Abhishek Prasad, Managing Partner, Cornerstone Venture Partners Fund, said “We believe Blubirch is solving a fairly large and complex need in the market. Its AI-led product enables marketplaces and OEMs’ decisions on the disposition of reverse inventory and helps unlock millions in working capital. The product suite as a whole can supercharge the entire supply chain for its customers, taking the value proposition beyond reverse automation! The company has come a long way and is working with quite a few marquee names in India while having started establishing its global footprint in key markets such as the Middle East and SEA.”
“Returns and warranty management is a fairly complex, often ignored and underappreciated area. Blubirch management has a deep domain understanding of this space and their platform can help retailers and OEMs deliver a better customer experience and reduce working capital cycles,” Amit Behl, Partner, Capital 2B further added.
Commenting on the funding round, Sapan Jain, CEO of Blubirch said, “We are thrilled to have secured this significant round of funding, which will empower us to continue our mission of revolutionizing the reverse supply chain. The funds will be deployed towards enhancing product development, majorly increasing acquisition of India-based talent, expanding regional operational capabilities, and accelerating market penetration.”
“A key component of our growth strategy is our international foray into the MENA–GCC market. This is a key strategic move backed thoroughly by our investors, CSVP Fund and Capital2B. It is a testament to our commitment to building a global Automated Returns Management ecosystem with international clientele in the e-commerce, retailer, and OEM marketplaces,” he added.