Rural commerce startup Rozana has raised $22.5 million in the latest funding round, reports Jessica Rajan for The Economic Times.
The funding was led by Bertelsmann India Investments, while current investors and Fireside Ventures also participated.
The company will use the funds to expand warehousing, logistics, and supply chain infrastructure to provide rural communities with access to essential products, says CEO Ankur Dahiya. The e-commerce platform was founded in 2021 by Dahiya, Adwit Vikram Singh, Mukesh Christopher, and Prithvi Pal Singh.
Meanwhile, Idfy, a digital verification and onboarding platform, has raised $27 million, Tarush Bhalla reports for The Economic Times. The funding round was led Elev8 Venture Partners.
Idfy will use the funds to fuel its product development and other expansion plans through which it plans to attract more businesses.
The company, founded in 2011 by Ashok Hariharan and Vineet Jawa, provides services such as employee background verification, digital onboarding, digital privacy, KYC, and KYB, adds the report.
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💰@RozanaIn raises $22.5M in venture funding to unlock #ecommerce for 300M+ new-to-online users in rural India, in a round led by @biifund, with participation from @firesideventure, @3one4Capital & others.
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