In the ever-evolving sphere of e-commerce businesses in the packaging industry certain enterprises rise above the mark, like Bizongo, embodying innovation, technology and resilience, and the potential for profound change. Bizongo, emerged as a prominent player in India’s B2B packaging solutions segment. Let’s get through the layers of Bizongo funding evolution, valuation mark, and the key shareholders who have played a pivotal role in making a company massive success.
Beyond its role in changing the face of the packaging industry, Bizongo’s journey is marked by remarkable financial milestones.
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Bizongo Funding Overview
Over the years, Bizongo has not only changed the face of the packaging industry but also attracted significant attention from investors. Bizongo’s success is underpinned by strategic funding rounds, each representing a milestone in the company’s growth.
Let’s look at the funding rounds of Bizongo!
|YEAR||SERIES ROUND||MONEY GROWTH||INVESTORS|
|May 2, 2018||Series B||$22 million||B Capital Group, International Finance Corporation|
|January 1, 2019||Venture Round||(undisclosed)||InnoVen Capital|
|July 19, 2019||Series C||$15 million||(undisclosed)|
|January 27, 2020||Series C||$30 million||Schroder Adveq|
|January 8, 2021||Series C||$683.5 million||(undisclosed)|
|April 26, 2021||Debt Financing||(undisclosed)||(undisclosed)|
|April 26, 2021||Series C||$51 million||Add Ventures, CDC Group|
|December 6, 2021||Series D||$110 million||Tiger Global Management|
|August 3, 2022||Debt Financing||$25 million||Mars Growth Capital|
|October 4, 2023||Series E||$50 million||Schroder Adveq|
The most recent investors of Bizongo were International Finance Corporation and Schroder Adveq. The recent funding round took place on October 4, 2023 and raised a funding of $50 million (Rs.416.1 crore).
Bizongo has raised a whopping amount of $315.3 million in total funding’s. Bizongo has had a total of 17 rounds of funding till date. Bizongo’s recent acquisition was Clean State Technologies and Hexa on March 21, 2022.
The valuation of a company is one of the important and major indicators of its financial health and future potential. With its new funding rounds in 2023, Bizongo has raised a valuation of $980 million. With marking a 63% increase in their profits as compared to their last year valuation.
In this funding round some notable investors also participated, like the – International Finance Corp, Chiratae Ventures, B Capital, and British International Investment.
Bizongo not only deals in packaging materials and apparels, but has also shifted its focus to the raw materials sector with a strong focus on metals.
Also the founder of the company claimed that they are on their way to achieve profit before tax by the end of FY24. With substantial investments from the investors Bizongo has successfully raised its valuation up to the mark. Bizongo groundbreaking approaches and rapid growth will pave the way for higher valuations.
Bizongo Shareholders Pattern
Beyond its up to the mark valuation and funding, there lies a diverse group of shareholders who invested in the belief of the company’s vision and contributed to its success over the years.
|Shareholders Name||Percentage of Shares Owned|
(Employee Stock Ownership Plan)
With a net worth of Rs.3,380 crore, funds own majority of shares in Bizongo. While the founders of the company have a net worth of Rs.679 crores, 15.66% of the shares.
The combined influence of investors and founders shaped Bizongo’s path to success, reflecting the power of collective ownership in making the company way to innovation and progress.
As we conclude this discussion, it’s evident that Bizongo with its sheer determination and hardwork has transformed the packaging industry. With shareholders who believe in the company’s potential, a strong financial foundation, and a promise to innovate, the company is all set to make more high marks in the industry.
Bizongo is well positioned to continue its journey of reshaping the packaging industry and to leave an indelible mark on the packaging business.